Creating a loss triangle | Domo

Trouble

A crucial want for any coverage enterprise is monitor claim losses in excess of time by exhibiting them in what are identified as “loss triangles.” Commonly, this is a quite manual course of action searching that involves hunting at the financial transactions about the previous year and when the declare happened and updating an Excel spreadsheet. 

Remedy

By leveraging Magic ETL and making use of the pivot desk card, I have been capable to automate this system and make it possible for our Finance crew to perspective up to date triangles any time they want. I enhanced it even even more by applying Type Builder, which allows the consumer to find a specific analysis day in scenario they really don’t want the most modern day, but want to look at as of a specific historic date. This saves our company many hrs each individual thirty day period and also enhances precision by applying this solution.

Demo

To develop the reduction triangles, I leverage the team by tile and the rank and window tiles to build running totals. This lets me to demonstrate losses for each individual calendar year of a declare. I then use the pivot table card and place the decline 12 months in the row and the transaction year (or months of progress) in the columns and the quantity in the benefit area. This will consequence in the info staying shown in the condition of a triangle.