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

SAP Term: subcoverage

• Component: FS-PM

• Component Name: Policy Management

• Description: A business object that is located below coverage level in the object hierarchy. It is used to make insurance-specific statements, for instance to restrict or extend the scope of insurance cover defined by the coverage itself.

Smart SAP Assistant

• Key Concepts: 
  Subcoverage is a feature of the SAP FS-PM Policy Management component that allows users to create multiple policies for a single insurance contract. This allows users to create different policies for different types of coverage, such as life insurance, health insurance, and property insurance. Subcoverage also allows users to customize the coverage for each policy, such as setting different deductibles or limits. 
  
  How to use it: 
  To use subcoverage in SAP FS-PM Policy Management, users must first create an insurance contract. Once the contract is created, users can then create multiple policies for the contract. Each policy can be customized with different coverage options and limits. Once the policies are created, they can be managed and monitored from within the SAP FS-PM Policy Management component. 
  
  Tips & Tricks: 
  When creating policies with subcoverage, it is important to ensure that all of the coverage options are properly configured. This will ensure that each policy provides the desired coverage and limits. Additionally, it is important to review all of the policies regularly to ensure that they are up-to-date and provide the desired coverage. 
  
  Related Information: 
  For more information on subcoverage in SAP FS-PM Policy Management, please refer to the official SAP documentation at https://help.sap.com/viewer/product/FS_PM/1H2020/en-US.