What is representative category in SAP FS-PM - Policy Management?

SAP Term: representative category

• Component: FS-PM

• Component Name: Policy Management

• Description: The role of a person who fulfills a specific task on behalf of the ordering party either once or on a permanent basis. This includes such things as legal guardians, guardians, supervisory guardians, individual representatives or correspondence recipients.

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• Key Concepts: 
  Representative category is a feature of the SAP FS-PM Policy Management component. It is used to define a set of rules that are used to determine the representative of a policyholder. The representative category is used to define the type of representative that can be assigned to a policyholder, such as an agent, broker, or other type of representative. 
  
  How to use it: 
  The representative category is used to define the type of representative that can be assigned to a policyholder. This is done by creating a set of rules that determine which type of representative can be assigned to a policyholder. The rules can be based on criteria such as the policyholder's age, gender, or other factors. Once the rules are defined, they can be applied to any policyholder in order to determine their representative. 
  
  Tips & Tricks: 
  When creating the rules for the representative category, it is important to consider all possible scenarios and create rules that are comprehensive and cover all potential cases. Additionally, it is important to ensure that the rules are easy to understand and follow so that they can be applied correctly and consistently. 
  
  Related Information: 
  The representative category feature is part of the SAP FS-PM Policy Management component. It is used in conjunction with other features such as policyholder profiles and policyholder groups in order to manage policies and their associated representatives. Additionally, it can be used in conjunction with other components such as SAP FS-CD Claims Management in order to manage claims and their associated representatives.