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234 points _false | 1 comments | | HN request time: 0.525s | source

COBOL legacy systems in finance and government are somewhat of a meme. However, I've never actually met a single person who's day job is to maintain one. I'd be curious to learn what systems are you working on?
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zeeframe ◴[] No.44604586[source]
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 have run IBM MQ as well.

If changes are made to these systems it’s often due to changes in regulation or driven by changes in the business(new financial products being offered etc.

Off-topic: I’ve seen quite a few mainframe related posts on HN fly by over the years. I’ve been meaning to create an account and participate but I’ve only gotten around to it just now.

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gosub100 ◴[] No.44607492[source]
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.
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1. jbreckmckye ◴[] No.44608605[source]
Insurance is largely about pricing risk. At the heart of most insurance platforms is a risk engine of sorts that takes a list of parameters and produces a premium.

The better your risk models, the more easily you can offer competitive premiums without over-exposure.

(I have worked in insuretech. Although my work was on transactional services and our white labelling capabilities rather than the math heavy stuff)