Creating a loss triangle

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/ Making a reduction triangle

Difficulty

A crucial need for any insurance plan firm is observe declare losses more than time by exhibiting them in what are identified as “loss triangles.” Typically, this is a extremely handbook system wanting that involves looking at the money transactions about the last 12 months and when the declare transpired and updating an Excel spreadsheet.

Solution

By leveraging Magic ETL and working with the pivot table card, I have been ready to automate this approach and enable our Finance workforce to see up-to-date triangles any time they want. I increased it even further by making use of Variety Builder, which enables the consumer to decide on a specific evaluation day in case they really don’t want the most recent day, but want to appear at as of a specific historical date. This saves our corporation many hrs each and every thirty day period and also improves precision by applying this alternative.

Demo

To generate the decline triangles, I leverage the group by tile and the rank and window tiles to make working totals. This enables me to exhibit losses for just about every year of a assert. I then use the pivot table card and position the loss year in the row and the transaction calendar year (or months of growth) in the columns and the quantity in the worth industry. This will result in the facts getting shown in the condition of a triangle.

Creating a loss triangle | Domo