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

SAP Term: reassessment measure

• Component: FS-PM

• Component Name: Policy Management

• Description: The act of changing the contents of an insurance policy. The aim of a reassessment measure to restore or improve the profitability of a policy or all in-force policies, or to remove or minimize an insurance-related imbalance.

Smart SAP Assistant

• Key Concepts: 
  Reassessment measure is a feature of the SAP FS-PM Policy Management component. It allows users to automatically reassess the risk of a policy or process at regular intervals. This helps to ensure that policies and processes remain up-to-date and compliant with regulations. 
  
  How to use it: 
  To use the reassessment measure feature, users must first define the parameters for the reassessment. This includes setting the frequency of the reassessment, as well as any additional criteria that should be taken into account. Once these parameters have been set, the system will automatically perform the reassessment at the specified intervals. 
  
  Tips & Tricks: 
  It is important to ensure that the parameters for the reassessment are set correctly. This will ensure that the system is able to accurately assess the risk of a policy or process. Additionally, it is important to regularly review and update the parameters as needed in order to keep up with any changes in regulations or other factors that may affect risk assessment. 
  
  Related Information: 
  For more information on using the reassessment measure feature in SAP FS-PM Policy Management, please refer to SAP's official documentation.