Creating a loss triangle | Domo

Difficulty

A essential want for any coverage enterprise is monitor assert losses in excess of time by displaying them in what are called “loss triangles.” Normally, this is a very handbook system looking that involves seeking at the money transactions more than the final yr and when the claim happened and updating an Excel spreadsheet. 

Alternative

By leveraging Magic ETL and using the pivot table card, I have been equipped to automate this procedure and allow our Finance team to see up to date triangles any time they want. I increased it even more by making use of Type Builder, which permits the consumer to pick out a distinct evaluation day in circumstance they do not want the most recent day, but want to seem at as of a sure historic date. This will save our company numerous hrs each and every thirty day period and also enhances accuracy by applying this option.

Demo

To make the decline triangles, I leverage the team by tile and the rank and window tiles to create operating totals. This will allow me to display losses for each and every calendar year of a claim. I then use the pivot table card and spot the reduction calendar year in the row and the transaction 12 months (or months of growth) in the columns and the total in the value discipline. This will consequence in the details becoming exhibited in the condition of a triangle.