What is In-Force Business Configurator in SAP FS-PM - Policy Management?

SAP Term: In-Force Business Configurator

• Component: FS-PM

• Component Name: Policy Management

• Description: A configuration system for defining objects in the policy management system, in particular default settings, value ranges and relationships with lateral objects.

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• Key Concepts: 
  In-Force Business Configurator is a component of the SAP FS-PM Policy Management module. It enables users to configure and manage their in-force business processes, such as policy administration, claims processing, and reinsurance. It also provides a comprehensive set of tools for managing the entire life cycle of an insurance policy, from initial setup to policy renewal.
  
  How to use it: 
  In-Force Business Configurator can be used to configure and manage in-force business processes. It provides a comprehensive set of tools for managing the entire life cycle of an insurance policy, from initial setup to policy renewal. It also allows users to define rules and conditions for policy administration, claims processing, and reinsurance.
  
  Tips & Tricks: 
  When using In-Force Business Configurator, it is important to ensure that all rules and conditions are properly configured and that all data is accurate. Additionally, it is important to regularly review the configuration settings to ensure that they are up-to-date and accurate.
  
  Related Information: 
  In-Force Business Configurator is part of the SAP FS-PM Policy Management module. Other components of this module include Policy Administration, Claims Processing, Reinsurance, and Reporting & Analytics.