NTT Data builds insurtech capability with purchase of Derry-based Alchemy

Irish wing to serve as global centre of excellence

Trade

Pictured: Bruno Abril, NTT Data and John Harkin, Alchemy Technology Services

NTT Data has acquired Derry-based insurtech Alchemy Technology Services for an undisclosed sum. 

This deal marks a significant milestone in NTT Data’s strategy to lead the digital reinvention of the insurance sector – a market worth an estimated $230.7 billion. 

The Alchemy team will serve as a global centre of excellence, helping shape and deliver complex transformation programmes for insurers worldwide. 

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. IT modernisation in P&C [property and casualty] 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.” 

NTT Data’s insurance capabilities are driven by a network of more than 15,000 specialists operating in 26 countries worldwide.

TechCentral Reporters

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