Creating a loss triangle | Domo

Issue

A critical will need for any insurance policy business is keep track of claim losses more than time by exhibiting them in what are called “loss triangles.” Usually, this is a very guide approach looking that entails seeking at the money transactions in excess of the last calendar year and when the declare transpired and updating an Excel spreadsheet. 

Alternative

By leveraging Magic ETL and using the pivot desk card, I have been in a position to automate this process and allow for our Finance group to view up to date triangles any time they want. I enhanced it even further more by applying Type Builder, which will allow the user to decide on a specific analysis day in situation they really don’t want the most modern day, but want to glimpse at as of a certain historic date. This will save our corporation numerous several hours just about every month and also increases precision by utilizing this solution.

Demo

To develop the loss triangles, I leverage the group by tile and the rank and window tiles to create running totals. This makes it possible for me to show losses for each individual calendar year of a assert. I then use the pivot desk card and position the loss yr in the row and the transaction calendar year (or months of enhancement) in the columns and the volume in the worth discipline. This will consequence in the info getting exhibited in the shape of a triangle.