LONDON -- NTT DATA, a global leader in AI, digital business and technology services, announced the acquisition of Alchemy Technology Services, a specialist insurance technology consultancy. The move reinforces NTT DATA’s commitment to transforming the global insurance ecosystem, addressing current and emerging challenges around agility, modernization and scalability. In addition to its strong consultancy and Guidewire credentials, Alchemy brings deep 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. This will further strengthen NTT DATA’s ability to serve niche and high-value segments across the global insurance landscape.

A shared vision for insurance innovation

This acquisition marks a significant milestone in NTT DATA’s strategy to lead the digital reinvention of the insurance sector - a market set to reach $230.7 billion in IT spend this year.

Building on its strong foundation in the industry, NTT DATA’s insurance capabilities are driven by a network of more than 15,000 specialists operating in 26 countries worldwide. With over 300 clients worldwide, the company serves 6 of top 10 insurers by revenues.

By combining its global scale and expertise with Alchemy’s strong foundation and local roots, NTT DATA is uniquely positioned to address the evolving needs of insurers worldwide.

The integration will accelerate core modernization efforts with agility and scalability, support the digital transformation of key markets and foster a smarter, more connected and data-driven approach to insurance. Together, the companies will co-innovate around emerging technologies including AI, automation, sustainability and next-generation insurance products.

Enhanced value and empowered talent

The acquisition delivers enhanced value to insurance clients through expanded capabilities in core system implementation, digital transformation, testing and application management. It also strengthens NTT DATA’s regional presence in the UK and Ireland, offering dedicated expertise across the full insurance lifecycle.

The Alchemy team will serve as a Global Centre of Excellence, helping shape and deliver complex transformation programs for insurers worldwide. Alchemy’s unique delivery model will be adopted internationally, with its academy training approach extended to support teams in other global locations.

Alchemy’s pioneering training model, which has developed over 200 professionals since 2018, will be further empowered under NTT DATA’s leadership.

A unified future

NTT DATA and Alchemy are committed to a collaborative, transparent and authentic integration process. The partnership is built on shared values of teamwork, development and innovation, with a focus on delivering positive change for clients, employees and the broader insurance community.

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 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, 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, welcomed the announcement: “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.”