The operating infrastructure for pension risk transfer.

Excede is the shared operating layer connecting insurers and reinsurers, replacing disconnected emails, spreadsheets and PDFs with standardised data, secure workflows, AI-assisted operations and complete audit trails. We start with UK longevity reinsurance, then expand across pension risk transfer.

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UK PRT market · 2025
£38bn
Total UK PRT market volume
85%
of transactions under £100m
42%
of market volume from deals under £500m
11/11
Insurers writing sub-£100m deals
Source: Hymans Robertson, Bulk annuity and longevity hedging – H2 2025
Founded by longevity & pension risk transfer practitioners from
PIC Munich Re Swiss Re Built on Palantir Foundry

The Problem

The infrastructure hasn't kept pace with the market.

Pension risk transfer is coordinated through fragmented emails, spreadsheets, PDFs, manual data validation and bespoke point-to-point integrations. There is no shared operating layer between insurers and reinsurers, so every transaction is rebuilt by hand and each party is effectively tied to the few counterparties it has bespoke processes for.

For insurers

Preparing a scheme for market takes weeks of manual work

Membership data, benefit specifications and RFQs arrive in inconsistent formats and are validated and re-keyed by hand. With no shared pipeline to reinsurers, each insurer is limited to the partners it has bespoke processes for, and pricing is only ever tested on a sample of schemes at a single point in time.

For reinsurers

Deal flow arrives unstandardised and incomplete

Schemes are received in bespoke formats that trigger repeated clarification cycles before anything can be priced. Without shared rails into the market, access to deal flow depends on individual bilateral relationships rather than the strength of the offering.

Why Now

The market is at an inflection point.

UK PRT volume is at record levels, with mid-market and flow deals driving the growth. Operational efficiency is now the constraint.

£6.5bn
Annual volume from sub-£100m flow deals alone
Hymans Robertson Report, H2 2025
300+
Sub-£100m deals written in 2025
Industry published data
3×
Growth in flow deals since 2021
Hymans Robertson Report, H2 2025
10yrs
Since the tied partnership model was designed. It's time for a better way

The Platform

From upload to placement in a single platform.

Every stage of a longevity reinsurance transaction in one place, from document upload through to placement.

01
Document Ingestion
Membership.csv
Benefit_Specification.pdf
RFQ.pdf
Marital_Survey.xlsx
Membership Data ✓
Benefit Specification ✓

Document Ingestion

Upload transaction files in any format. The platform classifies documents, extracts scheme metadata, and identifies relationships across the submission.

02
Data Mapping
DOB
→
date_of_birth
PensionAmt
→
annual_pension
SpouseDOB
→
spouse_dob
RetDate
→
retirement_date
EscType
→
escalation_type
Spouse%
→
spouse_fraction

AI-Assisted Data Mapping

Map pension data from any insurer format into a standardised structure. The platform suggests field mappings based on prior transactions. Users review and approve every decision.

03
Cashflow Projections
Yr 1Yr 5Yr 10Yr 15Yr 20Yr 25Yr 30Yr 40
Cashflow Survival

Liability Projections

Project liability cashflows for each quote. Run projections across the full membership using configurable actuarial assumptions to assess the cost of reinsurance.

04
Scheme Dashboard
ABC Pension Scheme
2,841
Members
£87.2m
Liability
98.7%
Data Quality
3
Reinsurers
Ready for Quoting

Scheme Dashboard

Review standardised scheme data, eligibility results, and readiness status before requesting quotes.

05
Quote Packages
Reinsurer A
Received
Standardised
Reinsurer B
In review
Standardised
Reinsurer C
Approved
Standardised

Quote Governance

Every quote arrives as a standardised package with disclosed assumptions, terms and approvals. Decisions are made on a like-for-like, fully governed basis, with a complete record of who saw what and when.

06
Placement
✓ Transaction Complete
Winning Reinsurer Reinsurer B
Final Price £82.7m
Execution Date 15 Mar 2025
Audit Pack Ready

Placement & Audit

Confirm placement with a full audit trail and templated legal agreements. Every decision, quote, and data point is recorded. Transaction documentation is generated automatically.

For Insurers

Upload scheme data in any format and let Excede standardise it. Submit once and review standardised quote packages with transparent assumptions, terms, and governance in a single workflow.

For Reinsurers

Receive every scheme in a clean, standardised structure that is ready to price. Pre-validated data means fewer clarification cycles and faster turnaround on quotes.

Architecture

The shared operating layer connecting the market.

Built on Palantir FoundryExcede uses Foundry as the secure data and workflow backbone beneath its shared operating layer, connecting insurer and reinsurer systems without replacing them.

Insurers load scheme data
Reinsurers load pricing models and assumptions
↔ Shared data, pricing, and workflow exchange ↔
Excede Operating Layer
Canonical Data Model
Workflow Orchestration
Automated Decisioning
Pricing Orchestration
Audit & Governance
↔ Governed feedback and competitive positioning ↔
Insurers compare governed quotes
Reinsurers see competitive position by scheme
Quote governance → Transaction placement → Audit trail
Human Approval
Explainability
Data Lineage
Audit Trails
Permission Controls

The Network

A shared market, not another point solution.

Excede is not a tool each firm runs on its own. It is the shared operating layer that insurers, reinsurers and their advisers transact through, so the whole market works from the same data, the same workflow and the same audit trail.

01

Reach the whole market

One connection to every counterparty on the platform, instead of a separate bespoke process for each relationship. Insurers reach more reinsurers; reinsurers see more schemes.

02

Stop rebuilding the same data work

One canonical standard for scheme, membership and benefit data that the whole market reads and writes, so data is prepared once and understood by everyone, not reformatted for every counterparty.

03

It gets better as the market joins

More reinsurers mean better coverage for insurers. More insurers mean better deal flow for reinsurers. Every participant makes the market work better for everyone already on it.

Security & Governance

Built for the most sensitive data in the market.

Excede handles pension scheme and member data, so security, isolation and auditability are the foundation the platform is built on, not features added afterwards.

Member data protection

Scheme and member data is encrypted in transit and at rest, with least-privilege access throughout. Sensitive fields can be masked or tokenised so personal information is only ever seen by those who genuinely need it.

Ring-fenced by participant

Every firm sees only its own data and the deals it is party to. Competing insurers and reinsurers are isolated by granular, role- and purpose-based permissions enforced at the data layer, not just in the interface.

Complete audit trail

Every access, edit and decision is recorded immutably with full data lineage, so any quote or placement can be reconstructed and evidenced for regulators, auditors and internal risk teams.

Enterprise-grade foundation

Excede is built on Palantir Foundry, inheriting the enterprise security model and granular controls trusted by governments and financial institutions, with configurable UK data residency and retention.

Excede runs on Palantir Foundry, whose platform holds independent certifications including SOC 2 and ISO 27001. Data handling is designed around UK GDPR and each participant's regulatory obligations.

Team

Built by market practitioners.

Founded by actuaries who have spent their careers executing longevity risk transfers and building the systems behind them.

Khurram Khan

Khurram Khan

Co-Founder & Chief Strategy Officer

Qualified actuary specialising in global Pension Risk Transfer. Former Head of Longevity Risk at Pension Insurance Corporation (2007–2023), responsible for strategy and execution across billions in longevity risk transfers. More recently involved in Macquarie's establishment of InEvo Re, a new Bermudan reinsurance entity.

Qualified Actuary 16+ yrs Longevity Risk Ex-PIC Head of Longevity
James Kearns

James Kearns

Co-Founder & Chief Technology Officer

Qualified actuary with over a decade of experience developing actuarial systems and processes across the UK re/insurance market. Has held roles at Munich Re, Swiss Re, and Blumont Annuity, working across both global reinsurer and startup environments. Palantir Foundry certified. Leads Excede's technical direction.

Qualified Actuary Munich Re · Swiss Re Palantir Foundry Certified

Vision

Pension risk transfer should operate on a shared operating environment, not disconnected spreadsheets, emails and bespoke processes.

Today, we are building the operating infrastructure for UK longevity reinsurance. Tomorrow, that same infrastructure can power pension risk transfer more broadly.

We measure success by the velocity of the smallest deal. We win when a £50m scheme can be quoted and placed as easily as a liquid bond trade.

Our aim is to become the trusted infrastructure through which pension risk transfer is executed, starting with UK longevity reinsurance and extending across insurance risk transfer over time.

Contact

Built from inside the market.

UK pension risk transfer is a small, tightly connected market, and one we come from. We're already building Excede in direct dialogue with participants across it. Whether you're part of the market, backing the infrastructure behind it, or advising on it, we'd like to talk.

info@excedeplatform.com
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