Straight to content

Discover: AI powered covenant

What is Discover?

This content is available after accepting the cookies.

Complexity and cost can pose challenges when scaling traditional covenant assessments for sectionalised schemes or portfolios of schemes, or smaller schemes. To address this, we have developed Discover – the AI powered solution for efficient covenant analysis – streamlining governance, enhancing transparency, and ultimately improving member outcomes.  

Discover is based on our extensive covenant experience, collected in our ratings database, and captured using cutting edge technology.  

Discover allows covenant risk to be managed in real-time across diverse employers by automatically monitoring news and peers to track covenant developments as they emerge, and notifying you when your attention is needed (saving your inbox from clogging up).

Discover can also:

  • provide an employer covenant rating complete with rating drivers 
  • explore what-if scenarios with respect to both shifts in scheme funding and corporate activities 
  • benchmark covenant metrics across the Cardano universe of ratings and much more. 

Discover is best accessed through our easy to use online portal:

Quickly get an overview for your entire portfolio… 

or drill down into a specific section/scheme…

Why use Discover?

Discover has been designed for situations where proportionate and efficient covenant analysis is required. Find out more below.

Discover awards wins

  • Innovation Award

  • Technology Innovation Award

    Pensions Age Awards

What our clients say:

Cardano has been supporting the Trustee of the Citrus Pension Plan using its Discover AI since 2023. As a DB master trust with over 30 Sections ranging significantly in size, the covenant profile of the sponsors to these sections varies considerably. Using Discover’s online portal, we are able to monitor and rate these covenants in real-time and with reduced admin burden. Ultimately, Discover provides the Trustee with comfort that our covenant governance is transparent and robust, at a price point that is proportionate to our needs – helping us to deliver effective outcomes for our members.

Sarah Leslie, Professional Trustee

We used Cardano’s Discover service to rate the covenant of a small c.£10m Scheme, as it provided appropriate guidance, proportionate to the size, scale, nature and complexity of the activities of the Scheme, at an acceptable cost.

Professional Trustee

By law Trustees are required to operate an Effective System of Governance (ESoG), proportionate to the size, scale, nature and complexity of the activities of the scheme, and which the assessment of the employer covenant is a critical part of.

Professional Trustee