What is claim type in SAP FS-CM - Claims Management?

SAP Term: claim type

• Component: FS-CM

• Component Name: Claims Management

• Description: The type classifies a claim and determines how the claim is processed. &EXAMPLE& Home contents insurance Fire, lightning Storm, hail Water damage Burglary, theft Glass breakage Bicycle theft Life insurance Death Surrender Partial surrender Expiration Occupational disability, permanent incapacity to work

Smart SAP Assistant

• Key Concepts: 
  Claim type is a feature of the SAP FS-CM Claims Management component. It is used to define the type of claim that is being processed. This includes the type of claim, such as a warranty claim, a customer complaint, or a product recall. It also includes the associated processes and rules that are used to process the claim. 
  
  How to use it: 
  Claim types are created in the SAP system and can be assigned to claims when they are created. This allows for different types of claims to be processed in different ways. For example, a warranty claim may require different steps than a customer complaint. The claim type also determines which processes and rules are used to process the claim. 
  
  Tips & Tricks: 
  When creating a new claim type, it is important to consider all of the different types of claims that may need to be processed. This will ensure that all of the necessary processes and rules are included in the claim type. Additionally, it is important to ensure that all of the necessary information is included in the claim type so that it can be easily identified when creating a new claim. 
  
  Related Information: 
  For more information on how to create and manage claim types in SAP FS-CM Claims Management, please refer to the official SAP documentation. Additionally, there are many online resources available that provide detailed instructions on how to use this feature.