What is rating risk code in SAP FS-PMA - SAP Policy Management Add-On for Auto Insurance?

SAP Term: rating risk code

• Component: FS-PMA

• Component Name: SAP Policy Management Add-On for Auto Insurance

• Description: An alternative risk code that is used to perform a rating.

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• Key Concepts: 
  Rating Risk Code is a feature of the FS-PMA SAP Policy Management Add-On for Auto Insurance. It is used to assign a risk rating to a policyholder based on their driving history, age, and other factors. This rating is then used to determine the premium rate for the policyholder. 
  
  How to use it: 
  The Rating Risk Code feature is used by insurance companies to assess the risk associated with a policyholder. The code is assigned based on the policyholder’s driving history, age, and other factors. The code is then used to determine the premium rate for the policyholder. 
  
  Tips & Tricks: 
  When assigning a Rating Risk Code, it is important to consider all relevant factors in order to accurately assess the risk associated with the policyholder. Additionally, it is important to ensure that the code is updated regularly in order to accurately reflect any changes in the policyholder’s risk profile. 
  
  Related Information: 
  The Rating Risk Code feature is part of the FS-PMA SAP Policy Management Add-On for Auto Insurance. This add-on provides additional features such as automated policy renewal and automated premium calculation. Additionally, it provides access to real-time data and analytics that can be used to better understand customer behavior and trends.