What is 'insurable value' in SAP FS-CM - Claims Management?

insurable value - Overview

• Component: FS-CM

• Component Name: Claims Management

• Description: Matches the evaluated loss that is determined using evaluation rules.

insurable value - Details

• 
  Key Concepts: 
  Insurable value is a term used in the FS-CM Claims Management component of SAP. It is the total amount of money that an insurance company is liable to pay out in the event of a claim. This amount is determined by the insurance company and is based on the insured's policy and the type of claim being made. 
  
  How to use it: 
  Insurable value is used to calculate the amount of money that an insurance company will pay out in the event of a claim. The insured's policy and the type of claim being made will determine the insurable value. The insurable value can be adjusted by the insurance company if necessary. 
  
  Tips & Tricks: 
  It is important to understand the insurable value when making a claim. Make sure to read your policy carefully and understand what is covered and what is not covered. This will help you determine the insurable value for your claim. 
  
  Related Information: 
  Insurable value is related to other terms such as deductible, coverage limit, and premium. It is important to understand how these terms are related in order to make an informed decision when making a claim.