Creating a loss triangle | Domo

Dilemma

A essential want for any coverage business is track claim losses above time by displaying them in what are called “loss triangles.” Generally, this is a incredibly manual process on the lookout that will involve searching at the economic transactions over the past yr and when the assert transpired and updating an Excel spreadsheet. 

Solution

By leveraging Magic ETL and working with the pivot table card, I have been in a position to automate this procedure and permit our Finance group to view up-to-date triangles any time they want. I enhanced it even even more by working with Sort Builder, which permits the user to choose a specific analysis date in scenario they really don’t want the most the latest date, but want to glance at as of a certain historical day. This saves our business a great number of hrs just about every month and also increases accuracy by utilizing this resolution.

Demo

To develop the reduction triangles, I leverage the team by tile and the rank and window tiles to develop functioning totals. This lets me to present losses for each and every calendar year of a declare. I then use the pivot desk card and location the decline 12 months in the row and the transaction calendar year (or months of growth) in the columns and the amount in the value subject. This will result in the facts becoming exhibited in the form of a triangle.