NTT DATA, a global leader in AI, digital business, and technology services, has acquired Alchemy Technology Services, a specialist insurance technology consultancy. This strategic move strengthens NTT DATA’s mission to revolutionize the global insurance ecosystem, tackling pressing challenges such as agility, modernization, and scalability. With its robust consultancy expertise and Guidewire credentials, Alchemy adds deep knowledge in the specialty insurance market, particularly in complex and highly regulated environments like the London Market, the world’s largest (re)insurance subscription hub. This acquisition positions NTT DATA to better serve niche and high-value segments across the insurance landscape.

A Shared Vision for Insurance Innovation

The acquisition represents a pivotal step in NTT DATA’s strategy to lead the digital reinvention of the insurance sector, projected to reach $230.7 billion in IT spending this year. Leveraging a network of over 15,000 specialists across 26 countries, NTT DATA currently supports more than 300 clients globally, including six of the top ten insurers by revenue. By combining its global scale with Alchemy’s strong foundation and local expertise, NTT DATA can more effectively address the evolving needs of insurers worldwide.

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The integration aims to accelerate core system modernization, enhance agility and scalability, and drive digital transformation in key markets. Additionally, the partnership will foster smarter, data-driven approaches to insurance, co-innovating around emerging technologies such as AI, automation, sustainability, and next-generation insurance products.

Enhanced Value and Empowered Talent

Clients will benefit from expanded capabilities in core system implementation, digital transformation, testing, and application management. Furthermore, the acquisition strengthens NTT DATA’s regional presence in the UK and Ireland, offering dedicated expertise across the insurance lifecycle.

Alchemy will serve as a Global Centre of Excellence, shaping and delivering complex transformation programs for insurers worldwide. Its unique delivery model will extend internationally, including its academy training approach, which has developed over 200 professionals since 2018. Under NTT DATA’s leadership, this pioneering model will be further empowered, enabling talent development on a global scale.

A Unified Future

NTT DATA and Alchemy are committed to a collaborative, transparent, and authentic integration process, founded on shared values of teamwork, development, and innovation. Together, they aim to drive meaningful change for clients, employees, and the broader insurance community.

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Bruno Abril, Global Lead, Insurance Industry, NTT DATA, said: “Joining forces with Alchemy enhances our ability to accelerate digital transformation in the insurance industry, reinforcing our strategic growth ambitions and the vast opportunities we see ahead. IT modernization in P&C insurance is not a fleeting trend – it’s a core market priority attracting sustained investment. Together, we are uniquely positioned to lead this transformation. This acquisition is a natural evolution of our shared vision, complementary capabilities and aligned values, empowering us to deliver smarter, scalable solutions that meet the evolving needs of insurers worldwide.”

John Harkin, Founder and CEO of Alchemy, added: “This is a proud and exciting moment for our team, our clients, and the wider region. Becoming part of NTT DATA unlocks extraordinary opportunities, not just for international growth, but for expanding the reach and impact of the work we do. As someone deeply committed to the north-west of Ireland, I’m especially proud that this move allows us to reaffirm and strengthen our long-term commitment to the area.”

Will McAllister, Senior Vice President, Managing Director, EMEA at Guidewire Software, welcomed the news: “We are delighted to hear the news of Alchemy’s acquisition by NTT DATA. This marks an exciting milestone, which we believe will open even greater opportunities to transform the global insurance industry. As a longstanding partner, we look forward to continuing to work together to deliver innovative solutions and even greater value for clients.”

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