The SAP portfolio management system for the insurance industry
SAP FS-PM is at the center of an SAP landscape for the insurance industry. Supplemented by other modules such as FS-CD (Collections and Disbursements), FS-ICM (Commission), FS-CM (Claims), FS-RI (Reinsurance) and the msg.PM calculation core, the "core processes" of an insurance company can be mapped from a single source.
SAP FS-PM primarily maps the non-life, liability and accident, health and life insurance lines with their respective specific business processes and business transactions. With the add-on "FS-PM Auto", the motor vehicle line of business is also represented in the SAP portfolio management system.
The full scope of FS-PM and FS-PM Auto can only be exploited if deployed correctly - we support you with our SAP expertise and consulting services.
SAP FS-PM: The whole life cycle of a contract in one system
- SAP FS-PM enables simple and transparent management of insurance contracts.
- The module maps the whole life cycle of a contract, starting from the creation of an application, through policy issuance and ongoing contract management, right up to the contract end.
- In addition, SAP FS-PM handles policy management, including quotation management, underwriting and endorsements.
Benefit from:
SAP FS-PM maps the following processes with integrated business process management as standard:
- New business
- Change
- Inquiry
- Fast inquiry
- Update
- Reset
- Reversal
In SAP FS-PM, numerous business processes can be processed by a clerk in a dialog thanks to background processing – there is also the option to complete all interactions with "dark processing".
Thanks to appropriate interfaces, FS-PM can also be addressed by non-SAP systems (for example, field service systems and workflow engines).
SAP FS-PM Auto: Add-on for the motor vehicle line of business
SAP FS-PM primarily maps the non-life, liability and accident, health and life insurance lines with their respective specific business processes and business transactions.. With the add-on "FS-PM Auto", the motor vehicle line of business is also represented in the SAP portfolio management system.
The business transactions of FS-PM form the basis for FS-PM Auto, which has been enhanced with the following, motor vehicle-specific requirements:
New business
- SFR with data from the previous insurer
- Create VWB with enquiry
Changes
- Graduation in the event of postponement of the main due date
- Change discount protection
- Changes to soft tariff features (e.g. mileage and driver group)
Cancellation
- Trigger a notification to the assignment centre
- Create data for central call
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