Insurance Earned Premium/Loss Ratio Calculation

[gguadalupe]

Hi All!

I'm new to PowerBi and I'm trying to implement an insurance dashboard.

All is fine, but now I'm trying to implement the loss ratio formula controled by a slicer filled with my Dates table.

For those who are new to insurance, the Premium (Sales) is Earned over the period of the insurance policy.

Example: an annual premium of $1000, at the 6 months of coverage the Earned Premium is $500 and $83.33 per month if coverage starts the 1st day of the month.

In my mind, the formula I have to implement is something like this:

Premium Per Day = PremiumTable[PremiumAmt] / Datediff(In Days, PremiumTable[EffectiveDate], PremiumTable[ExpirationDate])

Earned Premium for Selected Period = [Premium Per Day] * Datediff(In Days, Higher Date between DatesTable[Date] and PremiumTable[EffectiveDate], Lower Date between DatesTable[Date] and PremiumTable[ExpirationDate])

Acumulated Earned Premium = [Premium Per Day] * Datediff(In Days, PremiumTable[EffectiveDate], DatesTable[Date])

Thank you for your comments!!

[vanessafvg]

@spuder why do you say datediff wont return the number of days?  that is the point of datediff i.e the differences in the date  and the interval will be specified by you

example  

https://blog.crossjoin.co.uk/2015/06/22/using-datediff-to-calculate-time-intervals-in-dax/

or do i misunderstand what you are saying?

[spuder]

@vanessafvg

Oh I totally apologize for my mistake. I mixed it up with dateadd()

You are totally right with your explanation. Thanks for your help. So @gguadalupe forgot what I said.