Creating a loss triangle | Domo

Difficulty

A crucial require for any insurance plan firm is keep track of assert losses more than time by exhibiting them in what are identified as “loss triangles.” Ordinarily, this is a quite handbook method looking that includes seeking at the financial transactions around the very last year and when the assert transpired and updating an Excel spreadsheet. 

Solution

By leveraging Magic ETL and working with the pivot desk card, I have been ready to automate this course of action and enable our Finance group to perspective updated triangles any time they want. I enhanced it even more by working with Variety Builder, which permits the person to select a particular analysis date in circumstance they do not want the most recent date, but want to glimpse at as of a particular historic day. This saves our organization innumerable several hours every single month and also increases accuracy by utilizing this solution.

Demo

To make the reduction triangles, I leverage the team by tile and the rank and window tiles to build running totals. This permits me to display losses for just about every yr of a declare. I then use the pivot desk card and area the decline yr in the row and the transaction calendar year (or months of progress) in the columns and the volume in the worth area. This will end result in the details staying displayed in the condition of a triangle.