What is risk category in SAP FS-CM - Claims Management?

SAP Term: risk category

• Component: FS-CM

• Component Name: Claims Management

• Description: Factor expressing the risk of accident in the insured’s occupation. The risk category affects the amount of the premium.

Smart SAP Assistant

• Key Concepts: 
  Risk category is a feature of the FS-CM Claims Management component of SAP. It is used to classify and categorize risks associated with a particular claim. Risk categories are used to identify the potential severity of a claim and to help prioritize claims for further investigation. 
  
  How to use it: 
  Risk categories can be used to quickly identify claims that may require more attention or investigation. When creating a new claim, users can assign a risk category to it based on the potential severity of the claim. This helps to prioritize claims and ensure that the most important ones are addressed first. 
  
  Tips & Tricks: 
  When assigning risk categories, it is important to consider the potential severity of the claim and its potential impact on the business. It is also important to consider any external factors that may affect the risk associated with a particular claim. 
  
  Related Information: 
  Risk categories are closely related to other features of FS-CM Claims Management such as claim types, claim statuses, and claim owners. Understanding how these features interact can help users better manage their claims and ensure that they are addressed in a timely manner.