NTT DATA, a global provider of AI, digital business, and technology services, has acquired Alchemy Technology Services, a specialist insurance technology consultancy. This strategic move aims to enhance NTT DATA’s capabilities in transforming the global insurance ecosystem and addressing industry challenges related to agility, modernization, and scalability.
Alchemy Technology Services brings expertise in the specialty insurance market, particularly in supporting complex and regulated environments such as the London Market, the largest (re)insurance subscription market globally. Its strong consultancy and Guidewire credentials will further strengthen NTT DATA’s ability to serve niche and high-value segments across the global insurance landscape.
This acquisition represents a key step in NTT DATA’s strategy to lead the digital reinvention of the insurance sector, a market projected to reach $230.7 billion in IT spend this year. NTT DATA currently supports over 300 clients worldwide, including 6 of the top 10 insurers by revenue, through a network of more than 15,000 specialists in 26 countries.
The integration will accelerate core modernization efforts with agility and scalability, support the digital transformation of key markets, and foster a more connected, data-driven approach to insurance. The combined entities are expected to co-innovate around emerging technologies, including AI, automation, sustainability, and next-generation insurance products.
Clients are anticipated to benefit from expanded capabilities in core system implementation, digital transformation, testing, and application management. The acquisition also reinforces NTT DATA’s regional presence in the UK and Ireland. Alchemy’s team will operate as a Global Centre of Excellence, shaping and delivering complex transformation programs internationally, with its academy training model, which has developed over 200 professionals since 2018, being adopted globally.
Bruno Abril, Global Lead, Insurance Industry, NTT DATA, Inc., stated, “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, commented, “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 announcement, saying, “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.”
NTT DATA, a business and technology services leader with revenues exceeding $30 billion, serves 75% of the Fortune Global 100. It is a key provider of AI and digital infrastructure, offering capabilities in enterprise-scale AI, cloud, security, connectivity, data centers, and application services. As part of NTT Group, the company invests over $3 billion annually in R&D.
Founded in 2018, Alchemy Technology Services specializes in digital transformation and consultancy for the global insurance industry. As a Guidewire Advantage Partner, it delivers solutions for core platform implementations, upgrades, testing, and cloud adoption. Headquartered in Northern Ireland with a presence in London, Alchemy is recognized for its agile approach, client-first ethos, and investment in talent development.
