NTT DATA has announced the acquisition of Northern Ireland-based Alchemy Technology Services, an insurance technology consultancy firm.
Through this acquisition, NTT DATA aims to transform the global insurance ecosystem, addressing current and emerging challenges around agility, modernisation and scalability.
In addition to its strong consultancy and Guidewire credentials, Alchemy claims that it 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 acquisition will further strengthen NTT DATA’s ability to serve niche and high-value segments across the global insurance landscape. 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, the company claims.
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. The firm’s delivery model will be adopted internationally, with its academy training approach extended to support teams in other global locations.
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.”
John Harkin, founder and CEO of Alchemy, said, “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.”
Together, the companies will co-innovate around emerging technologies including AI, automation, sustainability and next-generation insurance products, it said.
- IIIT Hyderabad and NPCI Sign MoU to Strengthen Cybersecurity in Digital Payments
- KPIT Bets on AI for Margin Growth as Q2 Revenue Growth Stays Weak
- Akamai Launches AI Inference and Agent Sandbox Services
- OpenAI Sued Over ChatGPT’s Alleged Role in Woman’s Death After Seizure Medication Taper
- Live2.ai Raises ₹130 Cr in Pre-Series B Round Led by IvyCap Ventures
- LTM Launches Dedicated Unit to Build and Operate GCCs in India