The common thread throughout our history of more than 25 years is our innovation in services and solutions for the benefit of our clients. We share some highlights of our journey.
Even before Conac was founded, its future founders developed several actuarial tools to help with forecasting and accounting calculations for the Belgian pension fund market and local accounting standards (GAAP).
Yvo Vermeylen founded Conac with the idea that there were opportunities in actuarial services targeted at Belgian clients.
Conac combines its strengths in the Belgian market with the former Woodrow-Milliman to become the Belgian expert within a global network of leading independent actuaries and pension service providers. Today, the group is known as Abelica Global Network.
Conac introduces administrative and accounting tools to meet customer demands.
Conac’s clients include more than ten multinational companies that rely on our actuarial services for 75,000 participants.
Conac modernizes its administrative and accounting tools to adapt to the rise of Windows in administrative environments. PMi, the pension management tool, is launched on the Internet – a major step forward.
Conac adds outsourcing capabilities to its administrative and accounting services.
Conac is beginning to attract large American companies and Fortune 50 multinationals.
Conaccount is officially recognised by the IPCF-BIBF, the Professional Institute of Chartered Accountants and Tax Consultants of Belgium, under registration number 70.245.679, in accordance with the Royal Decree of 15 February 2005 on the practice of the profession of chartered accountant/tax consultant as a legal entity.
In view of the growth of its American clientele, increased demand for corporate governance and the prudential requirements of the FSMA, Conac decided in 2008 to apply for ISAE 3402 (formerly SAS 70) certification, covering accounting, administration, actuarial calculations and other business and IT processes. This certification, also known as SOC 1, has been renewed every year since 2011.
Conac creates a multi-employer pension fund called ‘Pension & Co’ . This solution allows the advantages of a pension fund (flexibility, transparency, choice of investment policy, full allocation of investment returns) to be retained while significantly reducing overall costs.
Conac develops the ‘Governance Manager’ software, a document management tool for administrators and other stakeholders within pension funds.
From 2011 onwards, Conac implemented automated reporting for Sigedis (DB2P) and continued to expand its reporting tools with new enhancements, as required by Sigedis.
Conac also adapts its software for SEPA.
The online Benefits application is undergoing a thorough review. This tool offers pension fund participants the possibility to:
Conac becomes GDPR compliant and applies for ISAE 3000/SOC2 certification.
Conac was acquired by AG Insurance but continues to operate as an independent entity. This allows Conac to combine the dynamism of an SME with the support of AG as a knowledge centre.
Conac celebrates its 35th anniversary and is stronger than ever.
Conac remains independent and Belgian, with the ambition of being a leading player in services related to supplementary pensions (second pillar).
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