What is change of insurer certificate in SAP FS-PM - Policy Management?

SAP Term: change of insurer certificate

• Component: FS-PM

• Component Name: Policy Management

• Description: The insurance company is authorized to issue a certification of the following data when ending an insurance contract for auto liability or fully comprehensive auto insurance, and to pass it on to the subsequent insurer if requested: The vehicle type and the usage category The start and end of the contract The claim-free discount status reached, expressed by the discount base year The number of claims and suspensions that have not yet affected the claim-free discount status In auto liability insurance, if requested by the subsequent insurer: The data listed in § 5 section 7 of German insurance law. Whether a certificate with number 1 - 6 has already been issued to the policyholder, and also the subsequent insurer to which such a certificate was issued. The transfer of the data listed in numbers 1 - 5 means that the insurer has fulfilled the obligation as listed in the compulsory insurance law: Unless the policyholder demands named certification as outlined in § 5 section 7 of German

Smart SAP Assistant

• Key Concepts: 
  Change of insurer certificate is a document that is used to transfer an insurance policy from one insurer to another. It is used in the FS-PM Policy Management component of SAP software. The document contains information about the policyholder, the policy, and the new insurer. 
  
  How to use it: 
  The change of insurer certificate is used when a policyholder wishes to transfer their insurance policy from one insurer to another. The document must be completed and signed by both the policyholder and the new insurer. Once the document is completed, it must be submitted to the new insurer for processing. 
  
  Tips & Tricks: 
  It is important to make sure that all information on the change of insurer certificate is accurate and up-to-date. This will ensure that the transfer process goes smoothly and that there are no delays in processing the document. 
  
  Related Information: 
  For more information about the FS-PM Policy Management component of SAP software, please visit https://help.sap.com/viewer/product/FS-PM/latest/en-US.