What is 'cessionary' in SAP FS-CM - Claims Management?

cessionary - Overview

• Component: FS-CM

• Component Name: Claims Management

• Description: The cessionary is the partner for the insurance company that is entitled to an insurance benefit by declaration of assignment.

cessionary - Details

• 
  Key Concepts: 
  Cessionary is a term used in the SAP FS-CM Claims Management component. It refers to a person or entity that has been assigned the right to receive payment from an insurance company for a claim. The cessionary is usually the claimant, but can also be a third party such as a lawyer or other representative. 
  
  How to use it: 
  In SAP FS-CM Claims Management, cessionary is used to identify the person or entity that has been assigned the right to receive payment from an insurance company for a claim. This information is used to ensure that payments are made correctly and on time. 
  
  Tips & Tricks: 
  When entering cessionary information into SAP FS-CM Claims Management, it is important to ensure that all relevant details are included, such as the name and contact information of the cessionary. This will help ensure that payments are made correctly and on time. 
  
  Related Information: 
  For more information about cessionary in SAP FS-CM Claims Management, please refer to the official SAP documentation.