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Discover: AI powered covenant

What is Discover?

Complexity and cost often put traditional covenant assessments out of reach for smaller schemes. Given the importance of covenant to member outcomes, and with an increased focus from The Pensions Regulator on covenant, we have developed Discover – using AI (Artificial Intelligence) to make external covenant analysis more accessible.

 

Discover provides access to our 300+ years of combined covenant experience, collected in our ratings database and captured using cutting edge technology. Based on key quantitative and qualitative data, Discover provides an employer covenant rating on a four-point scale, the main drivers underlying the rating, benchmarking of rating metrics, and corresponding recommendations.

 

Why use Discover?

Discover has been designed for schemes where high-level covenant input may be more appropriate (e.g. assets less than £50m and single employers/simple covenant structures). It gives trustees comfort that their employer covenant views have been externally validated, and member benefits remain protected. Amongst other things, Discover can be used to support: 

  • Triennial valuations, 
  • Ongoing monitoring,  
  • Scheme return submissions, and 
  • Trustees’ own risk assessments