ACTUNEO: Comprehensive Actuarial Python Library

ACTUNEO is an open-source, community-driven actuarial Python library that empowers African and Zimbabwean actuaries to perform core actuarial, financial, and statistical computations with ease.

Vision and Objective

The goal is to build a localized yet globally compatible toolkit that supports insurance, pensions, and investment analytics, while integrating with modern data science tools.

The library aims to:

Provide accessible actuarial computation tools for African practitioners
Bridge the gap between global methodologies and African market realities
Foster community-driven development and knowledge sharing
Support both traditional actuarial work and modern data science approaches

Key Features

African Market Focus

Localized Data Support: Mortality, inflation, and interest rate tables calibrated to African markets
Regulatory Alignment: Built-in parameters for IPEC Zimbabwe, PASA, SAM reporting
Currency Handling: Multi-currency modeling (USD, ZWL, Rand, etc.) with inflation adjustment
Socioeconomic Context: Assumptions for informal sector, microinsurance, and low-coverage environments

Technical Advantages

Integration: Works seamlessly with pandas, numpy, scikit-learn, plotly
Open Development: Community-driven through GitHub
Modern Approach: Combines traditional actuarial methods with data science

Installation

From PyPI:

pip install actuneo

From source:

git clone https://github.com/ShannonT20/ACTUNEO.git
cd actuneo
pip install -e .

Quick Start

Mortality Analysis

import numpy as np
from actuneo.mortality import MortalityTable, SurvivalFunctions

# Create a mortality table
ages = np.arange(20, 101)
qx = 0.001 * (ages - 20) / 80  # Simplified mortality rates
mt = MortalityTable(ages, qx, name="Example Table")

# Calculate life expectancy
le = mt.life_expectancy(30)
print(f"Life expectancy at age 30: {le:.1f} years")

# Survival functions
sf = SurvivalFunctions(mt, interest_rate=0.05)
survival_prob = sf.npx(30, 20)  # 20-year survival probability
print(f"20-year survival probability: {survival_prob:.3f}")

Financial Calculations

from actuneo.finance import InterestTheory, YieldCurve

# Interest theory
it = InterestTheory(interest_rate=0.05)
fv = it.future_value(1000, 10)  # Future value of $1000 in 10 years
print(f"Future value: ${fv:.2f}")

# Yield curve
maturities = [1, 2, 5, 10, 30]
yields = [0.03, 0.035, 0.045, 0.055, 0.065]
yc = YieldCurve(maturities, yields)
yield_15y = yc.get_yield(15)
print(f"15-year yield: {yield_15y:.3%}")

Life Insurance Calculations

from actuneo.life import LifeAssurance

# Life assurance calculations
la = LifeAssurance(mt, interest_rate=0.05)
premium = la.whole_life_assurance(30, sum_assured=100000)
print(f"Whole life premium at age 30: ${premium:.2f}")

Contents

Development