What is coverage package in SAP FS-PM - Policy Management?

SAP Term: coverage package

• Component: FS-PM

• Component Name: Policy Management

• Description: Additional level of the contract model that is positioned between the contract and the coverage. This level allows the user to map multiple coverage groupings within one contract.

Smart SAP Assistant

• Key Concepts: 
  A coverage package is a feature of the SAP FS-PM Policy Management component. It is a collection of policy documents that are used to define the scope of an insurance policy. Coverage packages are used to define the terms and conditions of an insurance policy, such as the types of coverage, limits, exclusions, and other details. 
  
  How to use it: 
  The coverage package feature in SAP FS-PM Policy Management allows users to create and manage coverage packages. Users can create new coverage packages or modify existing ones. They can also add or remove documents from a coverage package. Once a coverage package is created, it can be used to generate quotes and policies for customers. 
  
  Tips & Tricks: 
  When creating a coverage package, it is important to ensure that all documents are up-to-date and accurate. It is also important to review the coverage package regularly to ensure that it is still relevant and meets the needs of customers. 
  
  Related Information: 
  For more information about the coverage package feature in SAP FS-PM Policy Management, please refer to the official SAP documentation.