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

SAP Term: change of location

• Component: FS-PM

• Component Name: Policy Management

• Description: A change to an insured object resulting from a change of location change of address, place of residence, regional location. A change of location that affects the legal circumstances applies to insurances that are valid for a specific geographical area. For instance, the new location may be a higher risk area.

Smart SAP Assistant

• Key Concepts: 
  Change of location is a feature in SAP FS-PM Policy Management that allows users to move an existing policy from one location to another. This feature is useful for companies that have multiple locations and need to manage policies across different sites. It also allows for the transfer of policy information between different systems. 
  
  How to use it: 
  To use the change of location feature, users must first select the policy they wish to move. Then, they must select the new location for the policy and confirm the change. The policy will then be moved to the new location and all associated information will be transferred as well. 
  
  Tips & Tricks: 
  When using the change of location feature, it is important to ensure that all associated information is transferred correctly. This includes any documents or files related to the policy, as well as any other data associated with it. Additionally, users should make sure that all relevant stakeholders are notified of the change in order to ensure a smooth transition. 
  
  Related Information: 
  For more information on SAP FS-PM Policy Management and its features, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use this software effectively.