What is agency in SAP FS-RI - Reinsurance?

SAP Term: agency

• Component: FS-RI

• Component Name: Reinsurance

• Description: The name given to the business of a self-employed, full-time or part-time insurance agent. The agency may take the legal form of an individual business, a partnership general or limited or a corporation closed or stock.

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• Key Concepts: 
  Agency in SAP FS-RI Reinsurance is a business partner that acts as an intermediary between the ceding company and the reinsurer. It is responsible for negotiating and managing the reinsurance contracts between the two parties. The agency also provides services such as risk assessment, claims handling, and financial analysis. 
  
  How to use it: 
  In SAP FS-RI Reinsurance, agencies can be created and managed in the Agency Management module. This module allows users to define the agency’s contact information, set up payment terms, and assign roles to the agency. The module also provides a comprehensive view of all the reinsurance contracts associated with the agency. 
  
  Tips & Tricks: 
  When creating an agency in SAP FS-RI Reinsurance, it is important to ensure that all relevant information is entered accurately. This includes contact information, payment terms, and roles assigned to the agency. Additionally, it is important to keep track of all reinsurance contracts associated with the agency in order to ensure that they are managed properly. 
  
  Related Information: 
  For more information on agencies in SAP FS-RI Reinsurance, please refer to the official documentation available on SAP Help Portal. Additionally, there are several online resources available that provide detailed tutorials on how to use this module.