Insurance & Financial

Nicom IT Solutions has been in business for over 25 years and has built many custom applications. Some of these applications have been in the Insurance and Financial Services Sector, working with local insurance companies, banks and credit unions.

Here is a sample of some of the applications we have worked on:

Banking System for Credit Union
Cheque reconciliation via EDI
Enhancement to Investment Management System
Budget Tracker
Performance Plus

In addition to these, we have worked on numerous applications for Manulife Financial Corporation which owns John Hancock out of Boston, USA.

Banking System for Credit Union

Nicom developed an entire system for a local credit union, to handle all aspects of their banking needs, including savings accounts, chequeing, interest calculations, etc.

Cheque reconciliation via EDI

We developed a system for the Royal Bank of Canada for their clients, enabling them to use electronic data to balance their accounts with their in-house accounting systems. We were able to customize this application depending on the client needs as well as their internal systems.

Enhancement to Investment Management System

This project scope consisted of enhancing an Investment Management System that was purchased from a vendor. The system consists of 1200 programs and 240 database tables. Project tasks included fixing identified problems, analysis and design of new product sub-systems and preparation of a long-term plan for a wide-area network. This country-wide network allows agents and customers access to data related to their portfolios.

Budget Tracker

This application for allowed a manager to create a project and assign it a budget. Employees could then log in and bill their time and expenses against the budget. The manager could then track the project's progress (expense wise) against the initial budget. It had a number of business/security rules applied to it including:

Employees could only expense against a project they were assigned to
Employees could only see their own timesheets
Managers could see every employee's timesheet that was assigned to their project

Performance Plus

This application, written for a major insurance company, allows employees to log in and enter their goals for the following year. Each goal is given a point value and all goals have to add up to 100. The employee then submits their goal list to their manager to be approved. During the year, the manager keeps track of how well the employee meets these goals. At the end of the year, employee bonus are calculated depending on the employee's final "score", the years of service, and the employee's base salary. This system also had a number of business/security rules similar to those of the Budget Tracker system.

A management sections handles things like employee and manager maintenance, system settings, security, etc.

Insurance & Financial Industry Sector

Coming soon!

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