What is 'insurance dunning' in SAP FS-CD - Collections/Disbursements?

insurance dunning - Overview

• Component: FS-CD

• Component Name: Collections/Disbursements

• Description: Insurance-specific feature of the dunning procedure

insurance dunning - Details

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  Key Concepts: 
  Insurance dunning is a process used in SAP Financial Services Collection and Disbursement (FS-CD) to collect overdue payments from insurance companies. It involves sending out dunning notices to the insurance companies, which are reminders of the overdue payments. The dunning notices can be sent out manually or automatically, depending on the company's preferences. 
  
  How to use it: 
  In order to use insurance dunning in SAP FS-CD, the user must first set up the dunning procedure. This includes setting up the dunning levels, which are the different stages of dunning that will be used. The user must also set up the dunning criteria, which are the conditions that must be met before a dunning notice is sent out. Once these steps are completed, the user can then send out dunning notices to insurance companies as needed. 
  
  Tips & Tricks: 
  When setting up the dunning procedure, it is important to make sure that all of the necessary information is included in the dunning notices. This includes the amount due, payment terms, and any other relevant information. Additionally, it is important to make sure that all of the necessary contact information is included in the notices so that they can be sent to the correct person or department at the insurance company. 
  
  Related Information: 
  Insurance dunning is just one of many processes used in SAP FS-CD.