Creating a loss triangle | Domo
Table of Contents
A essential require for any insurance policy corporation is track declare losses more than time by displaying them in what are referred to as “loss triangles.” Typically, this is a very manual procedure wanting that involves searching at the economical transactions around the previous yr and when the claim happened and updating an Excel spreadsheet. By leveraging Magic ETL and making use of the pivot desk card, I have been ready to automate this procedure and let our Finance crew to view up to date triangles any time they want. I increased it even additional by utilizing Kind Builder, which enables the user to decide on a particular analysis date in situation they do not want the most modern date, but want to glance at as of a particular historical day. This saves our enterprise plenty of hrs just about every month and also enhances precision by implementing this resolution. To create the reduction triangles, I leverage the group by tile and the rank and window tiles to generate managing totals. This permits me to present losses for each individual year of a assert. I then use the pivot desk card and spot the reduction 12 months in the row and the transaction yr (or months of enhancement) in the columns and the quantity in the worth field. This will result in the facts becoming exhibited in the shape of a triangle.
Issue
Answer
Demo
