Canceling Expired Insurance Policies

You use this report during end-of-day processing to cancel insurance policies for which the contract end has been reached. The system creates a list of the policies that have expired.

Integration

To give notice on an insurance policy the system calls Collateral Management (FS-CMS), changes the policy status, and specifies the date of the status change.

To synchronize the data in Account Management (FS-AM) and in Collateral Management (FS-CMS) you need to execute the Compare Payment Plans for Insurance Policies report after this report.

Prerequisites

For information about the prerequisites, see the report documentation in the system, which you access in the initial screen for the transaction by clicking the icon, or in the description of the Insurance function.

Activities

You call this report in the SAP Easy Access menu under Start of the navigation path Account Management (FS-AM) Next navigation step Periodic Tasks Insurance Cancel Expired Insurance Policies End of the navigation path .

Enter the time period in which the end date of the insurance policies should lie. You can restrict the selection further by entering the insurance policy number. If you want to first simulate notice given, set the Simulation checkbox. You can also give notice on inactive insurance policies.

You can define an Automatic Cancellation Date for an insurance policy in the master data for an insurance policy so that the system cancels the insurance policy automatically on a specific day, thus deactivating the policy for an account. To manage this, you need to execute the Cancel Expired Insurance Policies report to inactivate the insurance policy and then execute the Compare Payment Plans for Insurance Policies report to deactivate the insurance link and the insurance premium conditions on the account. You can configure these reports in a job chain.