Governance is often priced only after the event, because the decision trail cannot be reconstructed before it. Arkaya makes it reconstructable.
Arkaya is building the evidence layer capital markets need to price it at the speed of agentic AI.
Governance becomes evidence a counterparty can underwrite against, not an assertion they price as risk.
Arkaya lets insurers and capital providers price governance continuously, on verifiable evidence, not on a once-a-year questionnaire.
The first product is continuous covenant underwriting, with AI liability as the first class written against the schema.
GET is the open schema. Continuous covenant underwriting is the product that runs on it. The schema enables the product; the product is not a second, competing offer.
Automated decisions have already crystallised nine and ten figure losses, reconstructed only after the event. The trail those reconstructions assembled too late is the trail Arkaya produces continuously.
Robodebt averaged annual income across fortnightly periods and raised welfare debts later ruled unlawful. A$1.8bn was settled in 2020, a further A$475m (about US$309m) in 2025. A royal commission found the responsible department held legal advice warning of unlawfulness in 2018 and proceeded. The decision trail surfaced years after the loss.
Royal Commission into the Robodebt Scheme, final report 2023; Reuters, 2025.
Algorithmic home-buying priced off the Zestimate model, which overpaid as the 2021 market turned. A $304m write-down in Q3 2021, a further $240m to $265m guided for Q4, the unit closed and about 2,000 staff cut, a quarter of the workforce. The model outputs existed internally. Continuous, externally verifiable evidence of the risk did not.
Zillow Group SEC Form 8-K, third quarter 2021.
Arkaya stewards the Governance Evidence Taxonomy, the open schema counterparties read to price governance risk. Arkaya GET Solutions is the commercial work that runs on it. Pick your path.
The Governance Evidence Taxonomy. The schema that translates risk and makes it machine-readable. Open. Multi-engine. Eight observable fields. Schema decisions sit on a separate governance track from commercial decisions.
Read the schema Pillar twoContinuous covenant underwriting, with AI liability as the first class. First-party evidence read into rating, retention, limit and capital, for insurers, lenders and acquirers at the pricing layer.
See the productArkaya's thesis is witnessed, not constructed. David holds the FCA Chief Executive controlled function, the most senior controlled role the FCA pre-approves, under the regime built after the financial crisis to put individual accountability behind governance. He has met the five capital moments from every side of the table: underwriting, broking on the sell-side, and corporate on the buy-side.
He turned down Barings at the start of his career; it became the textbook governance collapse. After 9/11, AIG appointed him to underwrite a property book on a co-underwritten facility, capacity split 50:50 with National Indemnity, a Berkshire Hathaway company, written net account, to exploit the wholesale facultative capacity vacuum the attacks opened. Both were AAA-rated at the time. He underwrote from inside two diametrically opposed business models. One later required a government rescue. The other did not.
In AIG's trade finance division in 2008 he worked on ABS/ABL transactions with the trade-receivables technology the firm had built and adopted. It was only selectively adopted in other finance houses depending on business culture, regulation and incentives.
He co-founded XS Reserve with Alastair Malcolm; its excess-of-loss trade credit reserve instrument won a 2016 Business Insurance Innovation Award. The intellectual property now sits within Centinel 10 Ltd, the company behind Arkaya.
The instrument is built by someone who underwrote the difference and recognises how AI allows governance risk to now be priced before it crystallises, rather than hit investors after.
Resilience Capital is built.
Not asserted.