Creating a loss triangle | Domo
A crucial have to have for any insurance enterprise is observe claim losses about time by displaying them in what are known as “loss triangles.” Ordinarily, this is a extremely handbook method hunting that requires searching at the economic transactions about the very last year and when the assert occurred and updating an Excel spreadsheet. By leveraging Magic ETL and making use of the pivot desk card, I have been capable to automate this procedure and permit our Finance workforce to watch updated triangles any time they want. I enhanced it even even more by employing Sort Builder, which lets the person to select a precise analysis day in circumstance they don’t want the most latest day, but want to appear at as of a sure historic date. This will save our business plenty of several hours just about every month and also improves precision by employing this solution. To develop the loss triangles, I leverage the group by tile and the rank and window tiles to build functioning totals. This allows me to present losses for each and every year of a claim. I then use the pivot table card and put the loss year 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 facts getting displayed in the form of a triangle.
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