A vital want for any insurance coverage firm is the flexibility to trace declare losses over time by displaying them in what are referred to as “loss triangles.” Usually, this can be a very guide course of that includes monetary transactions during the last 12 months, figuring out when the claims occurred, and updating an Excel spreadsheet accordingly. By leveraging Magic ETL and utilizing the pivot desk card, I’ve been in a position to automate this course of and permit members of our finance staff to view up to date triangles any time they need. I enhanced it even additional by utilizing Kind Builder, which permits the person to pick a selected analysis date in case they don’t need the latest date however do wish to take a look at a sure historic date. This protects our firm numerous hours every month and likewise improves accuracy. To provide the loss triangles, I leverage the group by tile and the rank and window tiles to create operating totals. This permits me to point out losses for annually of a declare. I then use the pivot desk card and place the loss 12 months within the row, the transaction 12 months (or months of improvement) within the columns, and the quantity within the worth area. This ends in the data being displayed within the form of a triangle:
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