Creating a loss triangle | Domo

Dilemma

A crucial want for any insurance corporation is observe declare losses in excess of time by exhibiting them in what are referred to as “loss triangles.” Commonly, this is a quite handbook method hunting that includes searching at the money transactions more than the very last yr and when the assert occurred and updating an Excel spreadsheet. 

Resolution

By leveraging Magic ETL and employing the pivot table card, I have been in a position to automate this system and allow for our Finance group to see current triangles any time they want. I improved it even even more by employing Form Builder, which enables the consumer to pick out a precise analysis day in scenario they do not want the most modern date, but want to glimpse at as of a particular historical date. This saves our corporation countless hrs each and every thirty day period and also improves precision by utilizing this answer.

Demo

To make the decline triangles, I leverage the group by tile and the rank and window tiles to create managing totals. This enables me to demonstrate losses for each individual yr of a declare. I then use the pivot table card and location the loss yr in the row and the transaction calendar year (or months of enhancement) in the columns and the sum in the value field. This will final result in the facts being exhibited in the form of a triangle.