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:

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 chequeing and savings accounts, 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 the institution’s in-house systems. We were able to customize this application based on the bank’s client needs as well as their own internal systems.

Enhancement to Investment Management System

The project scope consisted of enhancing a purchased Investment Management System. The System consisted of 1200 programs and 240 database tables. The project tasks included fixing identified problems, analyzing and designing new product sub-systems, and preparing a long-term plan for a wide-area network. This country-wide network provides agents and customers access to data related to their portfolios.

Budget Tracker

This application allows a manager to create a project and assign a budget. Employees can log in and bill their time and expenses. The manager can then track the project's progress, expense-wise, against the initial budget. It has a number of business/security rules applied to it, including:

  • Employees can only expense against a project they are assigned to
  • Employees only see their own timesheets
  • Managers have access to every employee's timesheet that is 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 collectively must add up to 100. Employees submit their goal lists to their managers for approval. During the year, the managers keep track of how well their employees are meeting these goals. At the end of the year, employee bonuses are calculated based on their final scores, years of service, and base salary. This system also has a number of business/security rules similar to those of the Budget Tracker.

A management section handles things like employee and manager maintenance, system settings, and security, to name a few.

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