GoF Consulting has experienced in consulting and system implementation projects for financial institutions (banks, insurance companies) and public institutions, and has solutions(GESG, GMV) for financial, risk and IFRS analysis.

Performance of Business

GoF Consulting has experienced in consulting and system implementation projects for financial institutions(banks, insurance companies) and public institutions, and mainly carries out projects related to K-ICS and IFRS17.

Consulting related to K-ICS

GoF Consulting has experience in performing K-ICS consulting and system construction projects at Seoul Guarantee Insurance, DB Insurance, and Heungkuk Life Insurance, MetLife and so on.

SGI

Review of Solvency II, ICS standards
Conducting impact analysis on the K-ICS ratio
Derivation of key promotion strategies for risk management

DB Insurance

Corresponds to K-ICS Field Test, QIS 1.0, QIS 2.0
Implement K-ICS calculation system
Consulting for approval of internal model and response to supervisors

Heungkuk Life

Corresponds to QIS 2.0, QIS 3.0
Implement K-ICS calculation system
Consulting for review of transitional measures and response to supervisors

MetLife

Review and diagnosis of K-ICS calculation status
Review of K-ICS system introduction plan

Consulting related to IFRS 17

GoF Consulting has experience in IFRS 17 consulting and system construction projects at Korea Insurance Development Institute, DB Insurance, Heungkuk Life Insurance, and Prudential.

KIDI

Review of IFRS17 Economic Assumption System Logic of Korea Insurance Development Institute

DB Insurance

Development and construction of economic assumption calculation system (GESG)
Review the movement methodology presented in IFRS17

Heungkuk Life

Economic assumption calculation system (GESG) customizing
Definition of business processes under IFRS 17 and IFRS 17 training
Development and construction of the insurance liability accounting verification system (GMV)

Prudential

Conformity review and rewriting of QIS writing results using liability accounting verification system (GMV)

Solution for Financial, Risk and IFRS Analysis

GoF Consulting has GESG(GoF Economic Scenario Generator) and GMV(GoF Movement) solutions for financial, risk and accounting analysis. The complexity required by K-ICS and IFRS17 standards can be solved with our solutions, providing convenience for data and verification.

GESG

(GoF Economic Scenario Generator)

GESG not only provides the functions of a general-purpose ESG engine, but also integrates functions such as discount rate and discount rate scenario calculation, published interest rate estimate and scenario calculation, and asset RC calculation. GESG is an ESG system necessary for economic assumption management.

GESG has the following features.

Implementation of the economic assumption requirements required by IFRS17 and K-ICS
Flexible response to changes in accounting and supervisory regime
Support design and development to meet customer needs
Providing convenience of verification for the result of calculation
Providing convenience of data management
Flexible linkage with other systems

GMV

(GOF Movement for ifrs17)

GMV is a comprehensive solution for the insurance industry to address the financial accounting requirements of IFRS17 and to measure and report liabilities. GMV integrates seamlessly with existing infrastructure, linking data, model, system, and processes between actuarial and accounting functions.

GMV has the following features.

Providing a step-by-step verification formula
Easy sensitivity analysis
Provision of calculation results in journal entry format
Easy to reflect accounting requirements
Easy to Use Solution and High utilization
Increase the efficiency of system performance

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