Bank & Insurance

LACO helps you facing the new regulations

Since the recent banking crises, the European Commission has been pushing for regularization. The European Central Bank has become the watchdog monitoring risk and making sure strategic decisions are properly managed by banks and insurance companies.

In future, the banking and insurance world will deal with risk and strategy fundamentally differently.

The resulting new regulations have had an immediate impact. Best known are Basel I, II and III for the banking sector and Solvency I and II for the insurance world.

LACO has a specialised team that helps insurance companies assess the impact of Solvency II and implementing the rules.

We also offer advice and assistance with the revised International Financial Reporting Systems (IFRS) regulations for accounting practices.

We can also help you with presenting transparent data, through the implementation or optimization of Business Intelligence solutions and the development of customized software.

A different and more specific problem is that of accident insurance better known as “Worker Compensation Model”.

Insurance companies need powerful Data Warehousing to be able to bring this product to market. LACO can guide you seamlessly through the entire process. Our specialists designed a specific model that can be set up and implemented quickly.