SAP FSPM Online Training |SAP FS PM Training | SAP Netizens

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SAP Netizens creates a innovative training solutions when it comes to provide online training in varied SAP Functional modules. Our subject matter experts helps trainee in all accepts of IT industry technologically and brining awareness to enrollers by guiding them with our technologically advanced team by providing online training to make everyone top class competitors to get well established in their required firm. Our online courses includes training in all latest and complex SAP Functional modules And most t complex ERP systems can be made easier to understand and explore new technologies. Our special SAP training classes includes extensive training on all modules that are present in SAP Functional side. Our trainers are certified professionals of their performed field and are considered as experts of their domains. The training provided by them is in most interactive and in virtual way which makes it even most easier to understand things much easier through their tried and tested interactive training methods.



SAP FSPM Online Training Introduction:

SAP FSPM Online Training Course Describes the Overview about SAP Policy Management, Process and Components of Basis Component, Technology Overview of Basis Component, Component Integration, Property & Casualty Line of Business – Enhancement Component. After this SAP FSPM Online Training Course Participant will gain the knowledge on Policy-Based Technology (PBT), PBT Workplace, In-Force Business Connector, Product Module Groups (PMG), about what are the journals in FS-PM, Release Machine and Business Functions and also about Object management using the Object Wizard.



SAP FS PM Training Course Content Overview of fspm Business Processes and Transactions:

New Business: Life Insurance and Personal Liability InsuranceCentral Access, Resumption and Risk Assessment processChanges to a policyReversal and Reset



CNTD.. Components within FS-PM

Inquiry Policy, Journal and History ManagementAccounting ComponentCorrespondenceObject ManagementTime ModelFund Management

Product ManagementProduct Manager msg.PMIn Force Business ConfiguratorMaster Policy Management and Mass Change



What Is SAP FSPM ?

we can manage insurance contracts with SAP Policy Management (FS-PM). we can map the whole life cycle of a contract, starting from the creation of an application, through policy issuance and ongoing contract maintenance, right up to the termination of the contract. we can edit the following business processes like New Business, Inquiry, Change, Universal Change, Reversal and Reset In various business transactions, we can execute scheduled and unscheduled processing activities on contracts. Examples of scheduled processing activities are premium debit entries, adjustments, correspondence, and contract extensions. Examples of unscheduled processing activities are changes to the sum insured or to the payment frequency.



CNTD..

Overview of SAP Policy Management (PM):

SAP Policy Management system being an integral part in any Insurance Product does the job of Policy Administration which includes Quotation Management, Underwriting, and Endorsements. Policy Management system is tightly integrated with Product Engine and also integrated with other SAP systems like:

Claim Management Incentives and Commission Management Collections and Disbursement Management Re-insurance Business Partner(BP) Financial Accounting(FI) Organizational Management Business Intelligence



CNTD..

The contract management encompasses all Lob independent information and processes in service oriented components such as:

The business objects are managed efficiently and centrally Changes to objects are documented in the Journal Correspondence is created to document results or to request

information to customers Insurable objects are managed centrally Fund management is the basis for fund related products (example:

Unit Linked Products) Accounting component provides dialogs, business functions and

background processing for sub ledger relevant and GL relevant transactions

Different business transactions are available to be executed both in background and foreground

Update and better controlling of all business functions with Time Model Functions



Integration to other Insurance systems from FS-PM:

Business Partner (FS-BP): Policy reads data from the business partner to get e.g. the valid address of the business partner. Business partner is used across FS-PM main axis hierarchy in form of policy holder, premium payer, insured person etc.

Financial Accounting (FI): Non-CF accounting documents are transmitted to FI for the creation of a balance sheet.

Collection and Disbursement (FS-CD): Cash-Flows are exported to FS-CD. These are documents or payments (collections/disbursements) that Policy expects to be paid physically by the customer or insurance company. FS-CD may itself aggregate its documents and send it to FI.

Correspondence: The customers need to be informed about the change which happened to their policies; FS-PM sets a trigger in the correspondence tool that information has to be sent. At the point when the correspondence takes place (internal SAP system or customer system) the correspondence tool calls back to FS-PM to get the data of the contract.

Claim Management (FS-CM): In most cases the claims management system needs data from the policy management in order to process a damage or loss which was claimed by the

Re-insurance (FS-RI): The FS-PM provides a BADI with can use all contract information of FS-PM to allow accumulation which is used for Reinsurance.

Incentive and commission management (FS-ICM): Communication happens via the PFO (position assignment). Distribution plans have to be exported finally to FS-ICM to regulate the amounts that an agent or manager gets.



Benefits with SAP FS-PM:

You can manage insurance contracts with SAP Policy Management (FS-PM). You can map the whole life cycle of a contract, starting from the creation of an application, through policy issuance and ongoing contract maintenance, right up to the termination of the contract.

You can edit the following business processes: New Business Inquiry Change Universal Change Reversal Reset



CNTD..

In various business transactions, you can execute scheduled and unscheduled processing activities on contracts. Examples of scheduled processing activities are premium debit entries, adjustments, correspondence, and contract extensions. Examples of unscheduled (irregular) processing activities are changes to the sum insured or to the payment frequency.

SAP Policy Management is connected to a product engine. In the product engine, you can define your own specific products and product model, as well as rules for calculations and plausibility checks.

The standard delivery of SAP Policy Management provides sample values for the Life and P&C, Liability and Personal Accident Insurance (P&C/Non-Life) lines of business.



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SAP FSPM Online Training |SAP FS PM Training | SAP Netizens