NTT DATA, a global leader in AI, digital business and technology services, today 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.
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 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.
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.”
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