What is subrogation in SAP FS-CM - Claims Management?

SAP Term: subrogation

• Component: FS-CM

• Component Name: Claims Management

• Description: The right to pursue someone else's claim. For example, a claimant assigns his claim to his insurance company so that the insurance company, who has reimbursed the claimant's loss, can pursue the claim with the party responsible for the loss.

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• Key Concepts: 
  Subrogation is a process in SAP FS-CM Claims Management that allows an insurance company to recover money from a third party who is responsible for a claim. It is used when the insurance company has already paid out a claim to the insured party, but believes that another party should be held liable for the claim. 
  
  How to use it: 
  In SAP FS-CM Claims Management, subrogation is initiated by creating a subrogation request. This request includes information about the claim, the third party responsible, and any other relevant details. Once the request is created, it can be tracked and monitored throughout the process. 
  
  Tips & Tricks: 
  When creating a subrogation request, it is important to include as much detail as possible. This will help ensure that the process runs smoothly and that all parties involved are aware of their responsibilities. Additionally, it is important to keep track of all documents related to the subrogation process in order to ensure accuracy and compliance with regulations. 
  
  Related Information: 
  Subrogation is an important part of claims management in SAP FS-CM. For more information on how to use this feature, please refer to the SAP Help documentation or contact your local SAP representative.