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 / Making ‘loss triangles’ in Domo

















Challenge

A significant require for any coverage firm is the skill to keep track of assert losses about time by displaying them in what are called “loss triangles.”

Commonly, this is a extremely guide process that will involve seeking at economical transactions about the previous 12 months, determining when the claims happened, and updating an Excel spreadsheet accordingly. 

Resolution

By leveraging Magic ETL and employing the pivot desk card, I have been able to automate this course of action and allow for members of our finance group to view up-to-date triangles any time they want.

I increased it even even more by utilizing Form Builder, which enables the person to find a specific evaluation date in scenario they don’t want the most the latest date but do want to search at a specific historical date.

This will save our corporation plenty of hours every thirty day period and also improves accuracy.

Demo

To produce the reduction triangles, I leverage the team by tile and the rank and window tiles to develop functioning totals. This enables me to display losses for every 12 months of a declare.

I then use the pivot desk card and spot the reduction 12 months in the row, the transaction 12 months (or months of progress) in the columns, and the amount of money in the worth industry. This benefits in the details currently being exhibited in the form of a triangle:













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