What is premium payer distribution in SAP FS-PM-PMG - Group Insurance Add-On?

SAP Term: premium payer distribution

• Component: FS-PM-PMG

• Component Name: Group Insurance Add-On

• Description: The distribution of the collection with respect to the distribution of the premium to the premium payers for example, employee and employer. The premium can either be the actual insurance premium or a subsidy to the insurance premium. The premium payer distribution defines the way the premium is paid for the policies included in a master policy. It defines who pays which part of the premium.

Smart SAP Assistant

• Key Concepts: 
  Premium payer distribution is a feature of the FS-PM-PMG Group Insurance Add-On in SAP. It allows for the automatic distribution of premium payments to multiple insurance companies. This feature helps to streamline the process of managing multiple insurance policies and ensures that all payments are made on time. 
  
  How to use it: 
  To use premium payer distribution, first set up the insurance companies in the system. Then, configure the payment rules for each company. Finally, set up the payment schedule and enter the payment amounts for each company. Once this is done, the system will automatically distribute the payments according to the rules and schedule that have been set up. 
  
  Tips & Tricks: 
  When setting up premium payer distribution, it is important to ensure that all of the payment rules and schedules are accurate. This will help to ensure that all payments are made on time and that no payments are missed or delayed. Additionally, it is important to regularly review and update the payment rules and schedules as needed. 
  
  Related Information: 
  The FS-PM-PMG Group Insurance Add-On also includes features such as policy management, claims management, and reporting capabilities. Additionally, it can be integrated with other SAP modules such as FI/CO and SD/MM for a more comprehensive solution.