The annuallife Library

Overview

The annuallife library packages TradLife_A, an annual new business projection model of basic traditional life policies, covering term, whole life and endowment products, built with modelx.

TradLife_A projects liability cashflows and their present values for policies represented by model points. Projected items include:

• Premiums,

• Commissions and expenses,

• Claims.

Premiums are calculated using commutation functions.

Cells for investment income reserves are defined but not implemented.

See TradLife_A for more details.

Nested projection example

The library also packages TradLife_A_EX1, an example model that demonstrates how to build a nested projection in modelx — a projection that, at each step, runs further inner projections. The technique is illustrated with a Solvency II life-risk SCR and risk-margin calculation built on TradLife_A, but the focus is the nested-projection pattern rather than the Solvency II implementation itself.

TradLife_A_EX1 reuses the structure, assumptions and input data of TradLife_A; only the spaces that change are documented on its page. See TradLife_A_EX1 for the list of updates from TradLife_A.

Successor of simplelife and solvency2

The annuallife library is the updated successor of the legacy Project simplelife project. Compared with the original simplelife model, TradLife_A introduces:

• Snake-case cell and reference names following the basiclife.BasicTerm_SC naming convention (for example, net_cf rather than NetInsurCF, claims rather than BenefitDeath).

• Array-based model points. Policy attributes are read from input.xlsx as 1-D NumPy arrays and addressed by the integer parameter idx (0-based) instead of PolicyID (1-based).

• A flatter space layout. Assumptions and PolicyAttrs are top-level spaces instead of being nested inside Projection.

• A renamed input space. The space holding input.xlsx-backed References is now InputData and is referenced as input_data by the rest of the model.

Likewise, TradLife_A_EX1 supersedes the legacy Project solvency2 project. Both build a Solvency II life-risk SCR and risk-margin calculation as a reference for complex nested projections, but TradLife_A_EX1 does so on top of the modernized TradLife_A model. The solvency2 project is therefore deprecated and will be removed in a future release.

How to Use the Library

As explained in the Copying a Library section, create your own copy of the annuallife library. For example, to copy as a folder named annuallife under the path C:\path\to\your\, type below in an IPython console:

>>> import lifelib

>>> lifelib.create("annuallife", r"C:\path\to\your\annuallife")

The TradLife_A model loads its data from input.xlsx, which lives next to the model directory inside the library folder.

To read the model on the IPython console, change the working directory to the library folder and use modelx’s read_model function:

>>> import modelx as mx

>>> m = mx.read_model("TradLife_A")

More detailed instructions on how to read, run and inspect the model are described in the Basic Usage section of the TradLife_A documentation.

Older modelx versions

TradLife_A is saved in the modelx serializer version 7 format and requires modelx v0.31.0 or newer.

For users whose modelx is older than v0.31.0, the library also includes TradLife_A_mx30, a copy of TradLife_A saved in the older serializer version 6 format. It is the same model and reads its data from the same input.xlsx. Read it instead with:

>>> import modelx as mx

>>> m = mx.read_model("TradLife_A_mx30")

Library Contents

File or Folder	Description
TradLife_A	The TradLife_A model.
TradLife_A_EX1	The TradLife_A_EX1 model, a Solvency II life-risk extension of TradLife_A.
TradLife_A_mx30	Copy of TradLife_A saved in the modelx serializer version 6 format, for modelx older than v0.31.0.
input.xlsx	Excel workbook holding policy data, assumptions, mortality tables, scenarios and product specs. It also holds the LifeShocks, LifeCorr and CoCRate inputs read by TradLife_A_EX1.
plot_tradlife_a.py	Python script for TradLife_A: cashflow
plot_pvcashflows_tradlife_a.py	Python script for TradLife_A: present values of cashflows
plot_scr_cashflows_tradlife_a_ex1.py	Python script for TradLife_A_EX1: SCR shock cashflows
plot_scr_radar_tradlife_a_ex1.py	Python script for TradLife_A_EX1: Life SCR radar chart
plot_pols_if_lapse_up_tradlife_a_ex1.py	Python script for TradLife_A_EX1: in-force run-off under the lapse-up shock
draw_charts_radar.py	Helper module providing draw_radar for the radar plot script.
tradlife_a-demo.ipynb	Jupyter notebook demonstrating cashflow projection.
tradlife_a-space-overview.ipynb	Tutorial notebook on the space tree of TradLife_A.

Jupyter Notebooks

TradLife_A Cashflow
TradLife_A Space Overview