NTT DATA Acquires Alchemy to Tackle Insurance Legacy Systems

NTT DATA has acquired Alchemy Technology Services, a specialist firm in insurance technology consulting. Beyond expanding its footprint in the UK and Ireland, this move signals a shift in how large tech providers approach the insurance sector—less as service vendors and more as long-term transformation partners. With Alchemy’s expertise in speciality insurance and Guidewire implementations, NTT DATA is positioning itself to accelerate modernisation across legacy-heavy markets like the London insurance market.

Why This Acquisition Matters for Insurers Right Now

The insurance industry is under pressure to modernise core systems while managing regulatory demands and cost pressures. Speciality markets such as the London Market still rely on legacy processes that are difficult to digitise. NTT DATA’s acquisition of Alchemy comes at a time when insurers are increasing investments in automation, AI and scalable platforms to stay competitive.

NTT DATA already works with over 300 insurers globally and employs more than 15,000 insurance specialists across 26 countries. With Alchemy, it gains niche capabilities in complex, regulated environments. This acquisition signals a strategy shift—from providing IT services to owning specialised insurance delivery models, particularly for high-value segments like speciality and reinsurance.

Alchemy Becomes a Global Centre of Excellence

Post-acquisition, Alchemy will operate as a global centre of excellence for insurance transformation. Its team will lead core system implementations, testing, digital transformation and application management. Alchemy’s academy model, which has trained over 200 professionals since 2018, will now be scaled internationally within NTT DATA’s network.

For insurers, the immediate value lies in faster project delivery, access to specialised skills and more agile modernisation of policy, claims and underwriting systems. For NTT DATA, the acquisition strengthens regional presence in the UK and Ireland while securing a pipeline of trained Guidewire and insurance-tech professionals—an increasingly scarce resource in the market.

Bruno Abril, Global Lead, Insurance Industry, NTT DATA, said: “Joining forces with Alchemy enhances our ability to accelerate digital transformation in the insurance industry… Together, we are uniquely positioned to lead this transformation.”
Alchemy CEO John Harkin shared: “This is a proud and exciting moment for our team… Becoming part of NTT DATA unlocks extraordinary opportunities.”
Guidewire’s Will McAllister added that the acquisition “will open even greater opportunities to transform the global insurance industry.”

Both companies are expected to co-develop solutions around AI, automation, sustainability and next-generation insurance products. The integration will support insurers moving toward data-driven decision-making and smarter underwriting, especially in complex specialty markets. As insurance IT spending grows, this deal could set the tone for more focused acquisitions across niche insurance tech providers.