Abstract: A system for representing insurance products as directed graphs and transforms the directed graphs into graph object artifacts for execution. The system includes a compiler, an execution engine and a web-based runtime environment. The compiler transforms source code defining an insurance product as a directed graph into a plurality of nodes, where each node represents one of a computation and an input, and outputs a graph object artifact. The execution engine has an execution model derived from the graph object artifact that is loaded into memory and an application program interface that provides an interface to the web-based runtime environment. The web-based runtime environment provides a layer of abstraction between the execution engine and external services or systems.