What is product in SAP FS-PM - Policy Management?

SAP Term: product

• Component: FS-PM

• Component Name: Policy Management

• Description: Level in the product model that enables the policyholder to conclude a primary insurance policy and multiple supplementary insurance policies together. Data this is valid for all elementary products or elementary product packages must only be entered once.

Smart SAP Assistant

• Key Concepts: 
  Product is a term used in the FS-PM Policy Management component of SAP. It is a type of policy that is used to define the rules and regulations that govern the use of a particular product or service. It can also be used to define the pricing and other related information associated with the product or service. 
  
  How to use it: 
  In FS-PM Policy Management, products are created and managed in the Product Manager. This is where all the information related to a product is stored, including its pricing, rules, and regulations. The Product Manager also allows users to create new products or modify existing ones. 
  
  Tips & Tricks: 
  When creating a new product in FS-PM Policy Management, it is important to ensure that all the necessary information is included. This includes pricing, rules, and regulations. Additionally, it is important to ensure that all the information is accurate and up-to-date. 
  
  Related Information: 
  For more information on FS-PM Policy Management and how to use it, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tutorials and tips on how to use this component of SAP.