Creating a loss triangle | Domo

Issue

A crucial require for any coverage firm is observe declare losses around time by exhibiting them in what are named “loss triangles.” Ordinarily, this is a incredibly handbook course of action looking that will involve searching at the money transactions about the final year and when the assert occurred and updating an Excel spreadsheet. 

Remedy

By leveraging Magic ETL and using the pivot table card, I have been ready to automate this approach and allow our Finance staff to see up-to-date triangles any time they want. I increased it even even more by applying Kind Builder, which allows the user to select a particular analysis day in scenario they never want the most current date, but want to glimpse at as of a specified historical date. This saves our business plenty of hours just about every month and also improves accuracy by applying this resolution.

Demo

To produce the decline triangles, I leverage the group by tile and the rank and window tiles to create working totals. This allows me to clearly show losses for just about every year of a assert. I then use the pivot desk card and put the loss 12 months in the row and the transaction calendar year (or months of development) in the columns and the quantity in the worth field. This will consequence in the details getting exhibited in the shape of a triangle.