Creating a loss triangle | Domo

Difficulty

A essential need to have for any insurance policies company is track declare losses in excess of time by displaying them in what are known as “loss triangles.” Generally, this is a incredibly handbook process searching that will involve hunting at the economical transactions in excess of the past calendar year and when the assert transpired and updating an Excel spreadsheet. 

Answer

By leveraging Magic ETL and working with the pivot table card, I have been in a position to automate this process and enable our Finance staff to look at up to date triangles any time they want. I improved it even more by making use of Sort Builder, which makes it possible for the person to decide on a unique evaluation day in circumstance they do not want the most current day, but want to search at as of a specific historical date. This will save our firm a great number of several hours just about every thirty day period and also enhances precision by utilizing this option.

Demo

To create the reduction triangles, I leverage the group by tile and the rank and window tiles to make managing totals. This permits me to demonstrate losses for just about every year of a assert. I then use the pivot desk card and position the loss yr in the row and the transaction yr (or months of enhancement) in the columns and the amount of money in the benefit discipline. This will end result in the details getting exhibited in the shape of a triangle.