What is 'refuse application' in SAP FS-PM - Policy Management?

refuse application - Overview

• Component: FS-PM

• Component Name: Policy Management

• Description: Action in the "New Business" business process or in a Change business process. The user must specify a refusal reason. The application is then given the status "Refused".

refuse application - Details

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  Key Concepts: 
  Refuse application is a feature of the SAP FS-PM Policy Management component. It allows users to reject applications for insurance policies that do not meet the criteria set by the insurer. This feature helps insurers to reduce risk and ensure that only qualified applicants are accepted. 
  
  How to use it: 
  To use the refuse application feature, users must first set up criteria for policy acceptance. This can include factors such as age, income, and other relevant information. Once the criteria have been set, users can then review applications and reject those that do not meet the criteria. 
  
  Tips & Tricks: 
  When setting up criteria for policy acceptance, it is important to ensure that all relevant information is taken into account. This will help to reduce the risk of rejecting qualified applicants and ensure that only those who meet the criteria are accepted. 
  
  Related Information: 
  The refuse application feature is part of the SAP FS-PM Policy Management component. Other features of this component include policy creation, policy renewal, and policy cancellation.