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

SAP Term: reassessment

• Component: FS-PM

• Component Name: Policy Management

• Description: The measures taken by an insurance company to rectify or minimize insurance-related imbalances in their insurance policies. Examples: Increasing underpriced premium rates Cancelling unprofitable insurance policies Acceptance strategy

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• Key Concepts: 
  Reassessment is a feature of SAP FS-PM Policy Management that allows users to review and adjust existing policies. It enables users to review the current policy settings and make changes as needed. This can be done manually or automatically, depending on the user's preferences. Reassessment can be used to ensure that policies are up-to-date and in line with current regulations and best practices.
  
  How to use it: 
  To use reassessment, users must first create a policy in SAP FS-PM Policy Management. Once the policy is created, users can then review the policy settings and make any necessary changes. The changes can be made manually or automatically, depending on the user's preferences. Once the changes are made, the policy will be reassessed and any necessary adjustments will be applied.
  
  Tips & Tricks: 
  When using reassessment, it is important to ensure that all changes are properly documented. This will help ensure that any adjustments made are in line with current regulations and best practices. Additionally, it is important to regularly review policies to ensure they are up-to-date and accurate.
  
  Related Information: 
  For more information on SAP FS-PM Policy Management, please visit the official SAP website at https://www.sap.com/products/fs-pm-policy-management.html. Additionally, there are many online resources available that provide detailed information on how to use reassessment in SAP FS-PM Policy Management.