Creating a loss triangle | Domo

Dilemma

A critical want for any coverage enterprise is track assert losses above time by exhibiting them in what are called “loss triangles.” Ordinarily, this is a quite manual course of action wanting that involves wanting at the money transactions more than the past yr and when the declare happened 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 method and enable our Finance group to view up to date triangles any time they want. I enhanced it even more by using Sort Builder, which lets the person to pick out a precise evaluation day in situation they never want the most latest date, but want to glance at as of a specified historical day. This will save our company innumerable hrs every single thirty day period and also increases accuracy by employing this answer.

Demo

To make the reduction triangles, I leverage the group by tile and the rank and window tiles to make working totals. This lets me to demonstrate losses for every calendar year of a assert. I then use the pivot table card and area the loss 12 months in the row and the transaction year (or months of development) in the columns and the total in the value area. This will final result in the information remaining displayed in the shape of a triangle.