What is involvement in SAP FS-RI - Reinsurance?

SAP Term: involvement

• Component: FS-RI

• Component Name: Reinsurance

• Description: An involvement represents the assignment of a business partner to a reinsurance treaty. The business partner can be assigned as the reinsurer, cedent, or broker. More details about a reinsurer's involvements can be provided by one or more shares. More details about a broker's involvements can be provided by order and placed parts.

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• Key Concepts: 
  Involvement in FS-RI Reinsurance is a term used to describe the relationship between a ceding company and a reinsurer. The ceding company is the insurer that transfers some of its risk to the reinsurer, while the reinsurer agrees to accept the risk and provide coverage for it. 
  
  How to use it: 
  In FS-RI Reinsurance, involvement is used to define the relationship between a ceding company and a reinsurer. The ceding company will transfer some of its risk to the reinsurer, who will then accept the risk and provide coverage for it. The ceding company will pay a premium to the reinsurer in exchange for this coverage. 
  
  Tips & Tricks: 
  When setting up an involvement in FS-RI Reinsurance, it is important to ensure that both parties are clear on their roles and responsibilities. This includes understanding the terms of the agreement, such as the amount of risk being transferred, the premium being paid, and any other conditions that may apply. 
  
  Related Information: 
  For more information on involvement in FS-RI Reinsurance, please refer to SAP's documentation on Reinsurance Management. This documentation provides an overview of how to set up and manage involvements in FS-RI Reinsurance.