What is collective subrogation/recovery in SAP FS-CM - Claims Management?

SAP Term: collective subrogation/recovery

• Component: FS-CM

• Component Name: Claims Management

• Description: Special form of a claim bundle for performing cross-claim subrogation/ recovery on the basis of the assigned subclaims. Corresponding receivable items can be created from the payment items of these subclaims. You can also use an analogous subrogation/recovery function in claim bundles in the category of accident event.

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• Key Concepts: 
  Collective subrogation/recovery is a feature of SAP FS-CM Claims Management that allows an insurance company to recover payments from third parties who are responsible for the claim. This process is also known as subrogation, which is the legal right of an insurer to pursue a third party for reimbursement of payments made to a policyholder. 
  
  How to use it: 
  In SAP FS-CM Claims Management, collective subrogation/recovery is used to identify and pursue third parties who are responsible for a claim. The system can be configured to automatically identify potential third parties and initiate the recovery process. The system also provides tools for tracking the progress of the recovery process and managing any disputes that may arise. 
  
  Tips & Tricks: 
  When configuring the system for collective subrogation/recovery, it is important to ensure that all relevant data is captured and stored in the system. This will ensure that all potential third parties are identified and that the recovery process is managed efficiently. 
  
  Related Information: 
  Collective subrogation/recovery is just one of many features available in SAP FS-CM Claims Management. Other features include claims processing, fraud detection, and reporting. For more information on these features, please refer to the SAP FS-CM Claims Management documentation.