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 / Developing a decline triangle

















Issue

A vital have to have for any coverage firm is track declare losses in excess of time by exhibiting them in what are called “loss triangles.” Normally, this is a incredibly handbook process looking that involves searching at the economical transactions around the final year and when the claim happened and updating an Excel spreadsheet. 

Resolution

By leveraging Magic ETL and applying the pivot desk card, I have been equipped to automate this approach and permit our Finance staff to perspective up to date triangles any time they want. I enhanced it even even further by employing Form Builder, which will allow the person to pick out a specific analysis date in circumstance they really do not want the most recent day, but want to seem at as of a selected historic date. This saves our company many several hours every single month and also improves precision by utilizing this solution.

Demo

To deliver the decline triangles, I leverage the group by tile and the rank and window tiles to generate managing totals. This makes it possible for me to show losses for each and every year of a declare. I then use the pivot desk card and position the reduction yr in the row and the transaction yr (or months of enhancement) in the columns and the sum in the benefit field. This will outcome in the information staying shown in the condition of a triangle.













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