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.
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 twoCommercial services that run on the schema. Product design for insurers, brokers, lenders, acquirers and reinsurers at the pricing layer. Corporate-side services at the five capital moments.
See the solutionsArkaya's thesis is witnessed, not constructed. David held SMF1, the Chief Executive 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 with no reinsurance treaty behind it, to exploit the wholesale facultative capacity vacuum the attacks had opened. Both were AAA-rated at the time. He underwrote from inside two business models that were diametrically opposed. One later required a government rescue. The other did not.
In AIG's trade finance division in 2008 he worked with the trade-receivables technology the firm had adopted.
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 is no longer prepared to see it priced only after it crystallises.
Resilience Capital is built.
Not asserted.