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

SAP Term: coverage type

• Component: FS-CM

• Component Name: Claims Management

• Description: Classification of a coverage. The coverage type is closely connected to the policy product. It is assigned to a policy product and therefore indicates which risks are covered by the policy product and which benefit types are permitted for the relevant insured risk.

Smart SAP Assistant

• Key Concepts: 
  Coverage type is a feature of the FS-CM Claims Management component of SAP. It is used to define the type of coverage that is associated with a claim. Coverage types can be used to differentiate between different types of coverage, such as medical, dental, or vision. 
  
  How to use it: 
  In order to use coverage type in FS-CM Claims Management, you must first create a coverage type in the system. This can be done by navigating to the Coverage Type tab in the Claims Management module and selecting “Create Coverage Type”. Once the coverage type has been created, it can be associated with a claim by selecting it from the drop-down list when creating or editing a claim. 
  
  Tips & Tricks: 
  When creating a coverage type, it is important to ensure that all relevant information is included. This includes the name of the coverage type, any applicable limits or restrictions, and any other relevant details. Additionally, it is important to ensure that all coverage types are kept up-to-date in order to ensure accuracy when associating them with claims. 
  
  Related Information: 
  For more information on using coverage type in FS-CM Claims Management, please refer to the SAP Help documentation at https://help.sap.com/viewer/product/FS_CM/latest/en-US.