What is quotation with amended conditions in SAP FS-PM - Policy Management?

SAP Term: quotation with amended conditions

• Component: FS-PM

• Component Name: Policy Management

• Description: Special case for an amendment option. This is presented to the policyholder if a risk assessment for the application produces an increased risk for the insurance company. The insurance company can present one or more quotations with amended conditions, with the request that the application be accepted with the amended conditions.

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• Key Concepts: 
  A quotation with amended conditions is a document created in the FS-PM Policy Management component of SAP that outlines the terms and conditions of a policy. It includes the policyholder's name, address, and contact information, as well as the policy's coverage, premium, and deductible. It also includes any changes to the policy that have been made since its original issuance. 
  
  How to use it: 
  To create a quotation with amended conditions in FS-PM Policy Management, first select the policy you wish to amend. Then enter the new terms and conditions into the quotation form. Once you have completed the form, click “Save” to save your changes. 
  
  Tips & Tricks: 
  When creating a quotation with amended conditions, be sure to double-check all of the information entered into the form for accuracy. This will ensure that the policyholder is aware of all changes made to their policy. 
  
  Related Information: 
  For more information on creating quotations with amended conditions in FS-PM Policy Management, please refer to SAP’s online documentation.