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

SAP Term: subcoverage variant

• Component: FS-PM

• Component Name: Policy Management

• Description: A clearly defined grouping of subcoverages that makes an insurance-specific statement about the higher-level coverage.

Smart SAP Assistant

• Key Concepts: 
  Subcoverage variant is a feature of the FS-PM Policy Management component of SAP. It allows users to define different coverage levels for different policyholders. This allows for more flexibility in the way policies are managed and allows for more tailored coverage levels for each policyholder. 
  
  How to use it: 
  Subcoverage variants can be used to create different coverage levels for different policyholders. This can be done by creating a subcoverage variant and then assigning it to a policyholder. The subcoverage variant will then be applied to the policyholder's policy, allowing them to have a tailored coverage level that is specific to their needs. 
  
  Tips & Tricks: 
  When creating a subcoverage variant, it is important to consider the needs of the policyholder and make sure that the coverage level is appropriate for their needs. It is also important to ensure that the coverage level is not too high or too low, as this could lead to unnecessary costs or inadequate coverage. 
  
  Related Information: 
  For more information on subcoverage variants and how they can be used in FS-PM Policy Management, please refer to the SAP Help documentation. Additionally, there are many online resources available that provide further information on this topic.