SAP Policy Management (FS-PM) is an integrated policy management system that is suitable for insurance companies operating on a global basis and for the regional market. This is guaranteed by integration in the SAP landscape.
Integration - auto insurance quote
SAP Policy Management is a central component of the insurance solution portfolio (SAP for Insurance), based on SAP NetWeaver 2004s (SAP NetWeaver Application Server ABAP 7.0).
This integration ensures that the communication with other SAP components, such as FS-BP (Business Partner), FS-CD (Collections/Disbursements), FS-CM (Claims Management), FS-ICM (Incentives & Commission Management), FS-RI (Reinsurance), and additional components is possible using defined interfaces. You can also connect systems from other providers.
Features
The following graphics show an overview of SAP for Insurance and the system architecture of SAP Policy Management:
Overview of architecture of SAP Policy Management. Auto insurance and statutory health insurance are potential LoB modules.
SAP Policy Management is divided into a basic part and into lines of business parts with industry-specific product models and business processes/transactions.
The Product Engine (msg.PM) linked to SAP Policy Management delivers the definition of the product structure used as the basis for policies, and for rating and plausibility check rules, and it also executes the calculations for each insurance product.
For more information, see:
● Collections/Disbursements
● In-Force Business Management
● Product Engine (msg.PM)
● Lines of Business
● Object Management
● Journal Management
● Fund Management
● Correspondence
● Accounting Component
