What is policy snapshot in SAP FS-CM - Claims Management?

SAP Term: policy snapshot

• Component: FS-CM

• Component Name: Claims Management

• Description: View of the contract upon which the claim is based. The policy snapshot contains all contract-specific data required for processing a claim.

Smart SAP Assistant

• Key Concepts: 
  A policy snapshot is a feature of the FS-CM Claims Management component of SAP software. It allows users to capture and store the current state of a policy at a given point in time. This snapshot can then be used to compare the policy’s current state with its previous state, allowing users to track changes over time. 
  
  How to use it: 
  To use the policy snapshot feature, users must first create a snapshot of the policy. This can be done by selecting the “Create Snapshot” option from the FS-CM Claims Management menu. Once the snapshot is created, users can view and compare the current state of the policy with its previous state. 
  
  Tips & Tricks: 
  When creating a policy snapshot, it is important to make sure that all relevant information is included in the snapshot. This includes any changes that have been made to the policy since its last snapshot was taken. Additionally, it is important to note that snapshots are only valid for a certain period of time, so it is important to take regular snapshots in order to ensure that all changes are captured. 
  
  Related Information: 
  For more information on using the policy snapshot feature in FS-CM Claims Management, please refer to SAP’s official documentation on the topic. Additionally, there are several online tutorials available that provide step-by-step instructions on how to use this feature.