1. A computer implemented method, comprising: generating a product specification for an insurance product, the product specification including computer code in a compilable format, the computer code comprising predefined statements, variables and functions; compiling, using a computing device, the product specification computer code and generating an executable product model; providing test data to the executable product model and generating output data; comparing the output data to at least one predetermined benchmark and determining that the output data falls below at least one predetermined benchmark; generating a second product specification computer code by reconfiguring a specific feature of the product specification computer code; compiling the second product specification computer code; and generating a second executable product model.