NTT DATA has announced the acquisition of Alchemy Technology Services, a specialist insurance technology consultancy, in a move that enhances its leadership in the global insurance sector. The acquisition reinforces NTT DATA’s commitment to driving digital transformation in the insurance industry, focusing on agility, modernisation, and scalability.
Strengthening expertise in specialty insurance
Alchemy Technology Services brings deep expertise in specialty insurance, particularly in complex and regulated markets such as the London Market, which is recognised as the world’s largest (re)insurance subscription market. The company’s strong consulting credentials and experience with Guidewire implementations will further strengthen NTT DATA’s ability to serve niche and high-value segments across the global insurance landscape.
The acquisition aligns with NTT DATA’s broader strategy to lead the digital reinvention of the insurance sector, which is expected to reach US$230.7 billion in IT spending this year. The company’s global insurance operations include more than 15,000 specialists in 26 countries, serving over 300 clients, including six of the world’s top ten insurers by revenue.
By integrating Alchemy’s local expertise with NTT DATA’s global scale, the combined organisation is positioned to deliver advanced digital transformation solutions that address evolving industry needs. The partnership aims to accelerate core modernisation efforts, enhance scalability, and support the creation of smarter, data-driven insurance systems.
Enhancing client value and regional growth
The acquisition expands NTT DATA’s capabilities in core system implementation, digital transformation, testing, and application management. It also strengthens the company’s regional presence in the UK and Ireland, where Alchemy has established a strong foothold.
Alchemy will operate as a Global Centre of Excellence, shaping and delivering complex transformation programmes for insurers worldwide. Its delivery model and in-house training academy, which has trained more than 200 professionals since 2018, will be adopted across NTT DATA’s international network. Under NTT DATA’s leadership, this model will be expanded to nurture new talent and strengthen the company’s technical expertise globally.
Both companies also plan to co-innovate around emerging technologies, including artificial intelligence, automation, sustainability, and next-generation insurance solutions. This collaboration aims to help insurers build smarter and more resilient operations capable of adapting to changing customer expectations and regulatory demands.
A partnership built on shared values
NTT DATA and Alchemy emphasised that the integration process will be collaborative and transparent, grounded in shared values of teamwork, innovation, and long-term development. The partnership aims to create positive outcomes for clients, employees, and the broader insurance ecosystem.
Bruno Abril, Global Lead, Insurance Industry, NTT DATA, Inc., 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 modernisation 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, said: “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, also welcomed the move: “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.”
