I’m not a COBOL dev but I work with mainframes(z/OS). Most COBOL applications I’ve seen have been banking and insurance related with few exceptions. Most of them either run as a series of batch jobs or via transaction managers like IMS and CICS. Backends are usually sequential files(we call them datasets),DB2,VSAM(Virtual Storage Access Method) or DL/1(hierarchical DB that’s part of IMS). Quite a few places I’ve seen…
What is the primary computational task for insurance? Is it computing actuarial tables? Or accounting for the premiums/claims? Or something else? I can excuse banking for not switching off of COBOL but I fail to see how insurance uses it to any significant degree.
The system contained records of all their policies including all the premium factors (e.g. make, model, year of car, parking location, physical address, etc). These premium factors were then fed into a rating engine which would use actuarial tables with custom actuarial defined algorithms to determine premiums.
In insurance companies, working out the correct premium is core to everything. Insurance companies can have lots of different products and their competitive edge comes from how well they structure their offerings and determine the correct premiums based on risk factors. One does not simply rewrite such a thing.
Couple of things I thought were a bit interesting about the place:
- Their single server running Universe Basic (with a hot spare I believe) had 4TB of RAM. - While I was used to the devs being the stars of the show at the consulting house I worked at, at insurance companies it’s the actuaries.