Skip to Content

In-Force Business Configurator (IFBC) is used to administer and amend the information, in the form of templates that is relevant for policy management. Therefore, we can create, change, and delete the templates in the IFBC in FSPM. A template describes the runtime behavior of an object in in-force business.

Role of IFBC.jpg

Since the IFBC is a configurable part of the policy management system you can create and edit templates, it checks the consistency of these. When you configure a template, you enter data about interface control and the structure information that is required for managing data. If you classify certain characteristics as being relevant for the IFBC, you can control these using the IFBC, provided the associated entity has also been classified as relevant for the IFBC. The IFBC copies the Customizing settings for the field modifiers and for default values and permitted value ranges, and really does not influence any functions that are defined in business rules or business functions.

Policy templates are the central control of the In-Force Business Configuration are part of the individual Customizing, and control the behavior of the objects (sales product, product, premium and so on) during operation runtime.

A template determines how an object is to behave at runtime in the policy management system. You can create templates for the objects you have marked as IFBC-relevant in the PBT (Policy Based Technology) .

Policy templates contain information, such as product assignment; behavior of the characteristics of the entities like field modification, default values, value ranges; and instances of the entities that influence in-force business attributes.

To simplify the creation of new templates in a SAP system, you can use copy function available.

These are the three types of copying policy templates:

1) Copying of the template with references to the dependent subtemplates.

2) Copying of the template with all main axis subtemplates.

3) Copying of all templates and all of subtemplates to new templates.

These templates simplify day-to-day business. You can define default values for all the fields classified as relevant for the IFBC. Therefore, IFBC can configure the policy business object for the policy management system and create templates containing the product knowledge relevant for in-force business. The IFBC also manages data that can be defined in a product engine, such as Product Engine (msg.PM). The IFBC, therefore, contains functions for copying static product data from a product engine to the IFBC templates.

The In-Force Business Configurator is used in two different places; the FS-PM and the product engine.

In FS-PM, it ;

1) Supports the policy instance;

2) Based upon templates

3) Manages business objects and attributes in concrete policy context

4) Supports product installation

5) Sets default of attributes, values, or range of selections

6) Defines Obligatory, Optional, Edit, and Hide options of fields

7) And defines cardinalities.

These are the component that FS-PM gets from the product management:

1) Product structure, which contains classes and objects regarding the main axis, lateral objects, and internal objects.

2) Relevant attributes, which includes all relevant attributes that are actually established from the reference model.

3) Premium calculation, which is a method that is called on the highest level and which triggers methods for calculation on the lower levels

4) Tariff, which is a standard property-liability insurance premium set by a rating bureau for a particular class of risk.

5) Profit, which is calculated based on used premium calculations and tariffs

6) Discount or Charges, which is defined by a customer and is dependent on a product structure.

7) Rules, which defines the structure of some sales products.

All of these are imported in a compilate which then should be imported within the IFBC.

To report this post you need to login first.

4 Comments

You must be Logged on to comment or reply to a post.

  1. Michael Hilberg

    Nice one, Sagar!

    You might want to redo the screenshot, it ended up rather blurry.

    One correction on the import from the product management: Only static aspects are imported. The dynamic aspects, especially the premium calculation (including the rates used) and product rules remain in the compilate and are executed by the product runtime engine.

    Not sure what you mean by profit in this context.

    Cheers,

    Michael

    (0) 
    1. sagar tasgaonkar Post author

      Thanks a lot for your feedback, Michael.

      Profit would refer to charging an adequate premium in order to cover losses, expenses, and allow some margin on earnings.

      Thanks a lot.

      (0) 

Leave a Reply