What is 'premium per piece' in SAP FS-PM-PMG - Group Insurance Add-On?

premium per piece - Overview

• Component: FS-PM-PMG

• Component Name: Group Insurance Add-On

• Description: The amount of money an insurance company charges for insurance coverage calculated for each insured object depending on the type of coverage and the attributes of the insured object as defined in the master policy.

premium per piece - Details

• 
  Key Concepts: 
  Premium per piece is a feature of the FS-PM-PMG Group Insurance Add-On in SAP. It allows users to calculate the premium for each individual insured person in a group insurance policy. This feature is useful for companies that need to calculate premiums for large groups of people, such as employees or members of an organization. 
  
  How to use it: 
  To use the premium per piece feature, users must first enter the details of the group insurance policy into SAP. This includes information such as the type of policy, the number of people covered, and the premium rate. Once this information is entered, users can then calculate the premium for each individual insured person by entering their details into SAP. 
  
  Tips & Tricks: 
  When using the premium per piece feature, it is important to ensure that all of the information entered into SAP is accurate. This will ensure that the premiums calculated are accurate and that no mistakes are made when calculating them. Additionally, it is important to keep track of any changes made to the group insurance policy, as this may affect the premiums calculated. 
  
  Related Information: 
  The premium per piece feature is part of the FS-PM-PMG Group Insurance Add-On in SAP. Other features included in this add-on are claims processing, policy management, and reporting. Additionally, there are other add-ons available in SAP