What is insurance handling in SAP FS-AM - Account Management?

SAP Term: insurance handling

• Component: FS-AM

• Component Name: Account Management

• Description: The insurance master data management which stores and displays the insurance specific data which are originally managed by the policy management system of the insurance company.

Smart SAP Assistant

• Key Concepts: 
  Insurance handling is a component of the FS-AM Account Management module in SAP. It enables users to manage insurance policies and contracts, as well as to process payments and claims. It also provides a comprehensive overview of all insurance-related activities.
  
  How to use it: 
  To use the insurance handling component, users must first set up the necessary parameters in the system. This includes defining the insurance types, setting up the payment terms, and configuring the system to process claims. Once these parameters are set up, users can begin to manage their insurance policies and contracts.
  
  Tips & Tricks: 
  When setting up the system for insurance handling, it is important to ensure that all parameters are correctly configured. This will ensure that the system is able to accurately process payments and claims. Additionally, it is important to regularly review and update the parameters as needed.
  
  Related Information: 
  The FS-AM Account Management module also includes other components such as customer management, billing, and payment processing. Additionally, there are several other SAP modules that can be used in conjunction with FS-AM Account Management for more comprehensive insurance management.