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SAP Business Partner – central party management system for insurance companies

All insurance companies deal with various parties – customers, third parties, reinsurers, agents, brokers etc. You might find one party playing different roles on different policy contracts – the same person might be a policy holder, insured person or premium payer on different policies, and there is a very high chance of creating redundant records that impair operational efficiency and customer satisfaction. SAP Business Partner (FS-BP) offers a solution to keep all your counterparty data in one central location.

Key features of SAP Business Partner include:

  • One repository of complete counterparty information shared across SAP for Insurance modules such as policy management, claims management, reinsurance, incentive and commission management, collections and  disbursements
  • Support for configuring various roles to enable efficient data capture
  • Support for configuring relationships to connect various parties
  • Configurable screen designs
  • Support for implementing company-specific de-duplication logic

SAP Business Partner readily integrates with other SAP for Insurance components such as SAP Collections and Disbursements, SAP Incentive and Commissions Management, SAP Reinsurance, SAP Policy Management, SAP Financial General Ledger and SAP Claims Management, and is also tightly integrated into SAP Netweaver components such as SAP Business Workflow, SAP Authorization Management and SAP Correspondence.