NTT DATA acquires Derry-based Alchemy to expand global insurtech capabilities

NTT DATA has acquired Londonderry-based Alchemy Technology Services, a move that significantly expands NTT DATA's capabilities in the insurance technology sector, especially in specialty lines and regulated markets such as the London Market. Alchemy, founded in 2018 and with over 200 professionals in the UK and Ireland, will operate as a Global Centre of Excellence to support digital transformation and modernization projects for insurers worldwide. The acquisition is expected to create more jobs in Derry as Alchemy aims to grow its global presence, targeting markets in the USA, Canada, and Europe. Both companies share values focused on people-first approaches and innovation, with NTT DATA aiming to lead the digital reinvention of the $230.7 billion insurance market. Local officials view the acquisition as a major milestone for the region, reinforcing the North West of Ireland as a hub of financial services innovation. This partnership will also leverage Alchemy's expertise in complex insurance environments and accelerate the development of next-generation insurance products using AI and automation.