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Procedure documentationEditing Insurance

 

On the Insurance tab page, you assign insurance contracts to an account so that the account is insured.

For more information, see Insurance.

Prerequisites

  • You have made settings for the product attributes under the Insurance node for the product on which the account is based. You do this in the Customizing activity Create Account Product or Change Account Product in Customizing for Account Management (FS-AM).

  • You have made the necessary settings in Customizing. For more information, see of Insurance in the Prerequisites section.

  • An insurance company has created an insurance contract for the business partner who is the account holder. The insurance is valid for the loan account.

  • You have received the master data of the insurance contract from the insurance company and created the data in Collateral Management (FS-CMS).

Procedure

Specify the following information for every insurance contract:

  • Insurance Company

  • Number of Insurance Policy

  • Start of Assignment of the Insurance Policy

  • End of Assignment of the Insurance Policy

  • Status of Assignment of Insurance Policy

  • Manage Insurance Premiums with Account

  • Insurance Policy Only Valid with Account

Result

Insurance is assigned uniquely to the account. Dependent on your settings, the system updates the insurance data in the contract if it identifies changes in the reports Canceling Expired Insurance Policies or

Compare Payment Plans for Insurance Contracts. If you have specified that the loan contains the insurance premiums to be paid, the ban pays the premiums to the insurance company after running the report

Disburse Insurance Premiums.