Creating a loss triangle | Domo

Problem

A significant require for any insurance policy firm is monitor declare losses in excess of time by exhibiting them in what are identified as “loss triangles.” Generally, this is a incredibly manual system wanting that involves seeking at the money transactions in excess of the last 12 months and when the assert transpired and updating an Excel spreadsheet. 

Remedy

By leveraging Magic ETL and employing the pivot desk card, I have been in a position to automate this process and allow for our Finance workforce to check out up-to-date triangles any time they want. I increased it even more by applying Type Builder, which will allow the user to find a precise analysis day in circumstance they never want the most current date, but want to appear at as of a specified historical date. This will save our business numerous hours every thirty day period and also improves precision by applying this remedy.

Demo

To produce the decline triangles, I leverage the team by tile and the rank and window tiles to develop working totals. This enables me to show losses for every single year of a assert. I then use the pivot desk card and position the loss 12 months in the row and the transaction 12 months (or months of progress) in the columns and the total in the price discipline. This will outcome in the information and facts becoming displayed in the form of a triangle.