What is lifelib?¶
lifelib is a collection of life insurance models. The lifelib models are built using modelx, an open-source Python package for building object-oriented models in Python. lifelib includes a variety of models along with some sample scripts and Jupyter notebooks that demonstrate how to use the models and draw graphs. More models will be added in future.
lifelib models are highly customizable, and thanks to modelx’s strong inspection capability, they are best suited for such purposes as model validation, where you need to inspect calculations for each individual model point.
For model validation / testing
For pricing / profit testing
For research/educational projects
For prototyping production models in agile developments
For defining model requirements in replacement for documents
As replacement for any spreadsheet models
lifelib models are built using modelx. Below is a non-exaustive list of the advantages of using modelx:
Multidimensional data structure
Object oriented models
Interface with Excel/Pandas
Consequently, you can expect following benefits from model development and governance perspectives:
More efficient, transparent and faster model development
Model integration with Python ecosystem (Pandas, Numpy, SciPy, etc..)
Spreadsheet error elimination
Better version control/model governance
Automated model testing
How lifelib works¶
lifelib is a Python package, and it includes a variety of projects. A project is a folder containing a model, sample scripts and Jupyter notebooks. You can choose a project you want to use as the base for your own project, and copy the project from the package to your own location. See here for how to make a copy of a project.
Once you make your own copy of the project, you can run the scripts or the notebooks in the project.
Once the model is read, it is available as a modelx Model object in the IPython session. The model is composed of Spaces. Spaces contain Cells and other Spaces. Cells are much like cells in spreadsheets, which in turn, can store formulas and associated values.
With a lifelib model, you can:
Get calculated values by simply accessing model elements,
Change the model by changing input and writing formulas in Python,
View the tree of model elements in graphical user interface,
Output results to Pandas objects,
Save the model, load it back again, and do much more.
Start from Quick Start page.