What is generic entity in SAP FS-PM-PMG - Group Insurance Add-On?

SAP Term: generic entity

• Component: FS-PM-PMG

• Component Name: Group Insurance Add-On

• Description: An additional entity used to enhance the master policy agreement that makes it possible to define default values for assigned policies for example, for premium per piece.

Smart SAP Assistant

• Key Concepts: 
  Generic entity is a term used in the FS-PM-PMG Group Insurance Add-On component of SAP software. It is a type of object that can be used to store and manage data related to insurance policies. It is a generic object that can be used to store and manage data related to any type of insurance policy, such as life, health, property, and casualty insurance. 
  
  How to use it: 
  Generic entities can be used to store and manage data related to insurance policies in the FS-PM-PMG Group Insurance Add-On component of SAP software. This data can include policy information, such as policy numbers, coverage amounts, and premium payments. It can also include customer information, such as name, address, and contact information. 
  
  Tips & Tricks: 
  When using generic entities in the FS-PM-PMG Group Insurance Add-On component of SAP software, it is important to ensure that all data is entered accurately and completely. This will help ensure that the data is accurate and up-to-date. Additionally, it is important to regularly review the data stored in the generic entity to ensure that it is still accurate and up-to-date. 
  
  Related Information: 
  For more information about generic entities in the FS-PM-PMG Group Insurance Add-On component of SAP software, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips for using generic entities in SAP software.