What is recovery service in SAP FS-PMA - SAP Policy Management Add-On for Auto Insurance?

SAP Term: recovery service

• Component: FS-PMA

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

• Description: Recovery service is an optional element of auto insurance. With recovery service, a policyholder is entitled to additional assistance in the event of a breakdown, accident, or theft.

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• Key Concepts: 
  Recovery Service is a component of the FS-PMA SAP Policy Management Add-On for Auto Insurance. It is a tool that helps insurers to quickly and accurately recover payments from customers who have defaulted on their insurance payments. It automates the process of recovering payments, reducing the time and effort required to do so. 
  
  How to use it: 
  The Recovery Service component of the FS-PMA SAP Policy Management Add-On for Auto Insurance can be used to automate the process of recovering payments from customers who have defaulted on their insurance payments. It can be used to identify customers who have defaulted on their payments, calculate the amount due, and then initiate the recovery process. 
  
  Tips & Tricks: 
  When using the Recovery Service component of the FS-PMA SAP Policy Management Add-On for Auto Insurance, it is important to ensure that all customer information is accurate and up-to-date. This will help to ensure that the recovery process is as efficient as possible. Additionally, it is important to ensure that all customer communication is handled in a professional manner in order to maintain customer relationships. 
  
  Related Information: 
  The Recovery Service component of the FS-PMA SAP Policy Management Add-On for Auto Insurance is part of a larger suite of tools designed to help insurers manage their policies more efficiently. Other components include policy administration, claims management, and customer service tools. Additionally, there are other SAP products available that can help insurers manage their policies more effectively.