What is reference policy in SAP FS-PM - Policy Management?

SAP Term: reference policy

• Component: FS-PM

• Component Name: Policy Management

• Description: Policy referenced in coinsurance by the reference partner.

Smart SAP Assistant

• Key Concepts: 
  Reference policy is a feature of the SAP FS-PM Policy Management component. It allows users to create a policy template that can be used as a reference for other policies. This template can be used to quickly create new policies with the same structure and content as the reference policy. 
  
  How to use it: 
  To use the reference policy feature, users must first create a policy template. This template should include all of the necessary information for the policy, such as the name, description, and any other relevant details. Once the template is created, it can be used as a reference for other policies. When creating a new policy, users can select the reference policy from a list of available templates and then customize it to their needs. 
  
  Tips & Tricks: 
  When creating a reference policy, it is important to make sure that all of the necessary information is included in the template. This will ensure that all policies created from the reference policy have the same structure and content. Additionally, it is important to keep the reference policy up-to-date with any changes in regulations or other relevant information. 
  
  Related Information: 
  For more information on using the reference policy feature in SAP FS-PM Policy Management, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/FS-PM/2020/en-US