/ Building a reduction triangle

















Difficulty

A important need for any coverage corporation is observe declare losses about time by displaying them in what are termed “loss triangles.” Ordinarily, this is a very guide course of action hunting that entails looking at the fiscal transactions in excess of the last yr and when the claim happened and updating an Excel spreadsheet. 

Alternative

By leveraging Magic ETL and using the pivot table card, I have been capable to automate this system and let our Finance crew to look at updated triangles any time they want. I enhanced it even more by utilizing Kind Builder, which enables the consumer to pick out a specific analysis date in case they really don’t want the most new day, but want to glance at as of a particular historic day. This saves our firm countless several hours each month and also enhances precision by implementing this alternative.

Demo

To produce the decline triangles, I leverage the team by tile and the rank and window tiles to build operating totals. This allows me to exhibit losses for each and every yr of a declare. I then use the pivot table card and put the decline calendar year in the row and the transaction 12 months (or months of progress) in the columns and the quantity in the value subject. This will final result in the facts currently being shown in the form of a triangle.