How to Rewrite a Policy

How to Process a Policy Rewrite
A rewrite is used when an existing policy is canceled and replaced with a new one for the same insured, typically to:

• Change the carrier or program mid-term
• Adjust coverage that cannot be handled via endorsement
• Move the insured to a new line of business or different product

Key Difference from Endorsement: A rewrite creates an entirely new policy record in Momentum AMS, whereas an endorsement modifies the existing one.

1️⃣ Locate the Existing Policy

Use Dynamic Search to find the insured.
From the Insured’s Profile, go to the Policies section.
Click the Policy Number for the policy being replaced.

2️⃣ Document the Rewrite Reason

Go to Activity History → Notes in the insured’s record.
Create a new note with:
- Subject: Rewrite – [Carrier / Program]
- Detailed reason for rewrite (e.g., carrier program change, coverage upgrade, rate change).
- Link to the original policy in the note for quick reference.

3️⃣ Cancel the Old Policy

From the policy details screen, click Actions (upper-right) → Cancel Policy.
Enter the Effective Date and Reason.
Save.

? Note: This step only stops the old policy from being active — you must still process a premium endorsement and handle any return premium or balance due (see How to Cancel a Policy workflow).

4️⃣ Create the New Policy (Rewrite)

From the insured’s Policies section, click Add New Policy or use the Clone as Quote feature (see Step 5).
Enter all policy details if starting from scratch:
- Carrier, MGA, Program
- Policy Number (or pending if not yet issued)
- Effective & Expiration Dates
- Line of Business and Coverage details
- Billing Type (Agency Bill, Direct Bill, etc.)
- Premium and fees (if available at binding)
Save the policy record.

5️⃣ Transfer Relevant Policy Data via “Clone as Quote”

Instead of manually re-entering insured items:

Open the current policy.
Click Actions (upper-right) → Clone as Quote.
This will copy all insured items (vehicles, drivers, locations, equipment) from the existing policy into a new quote iteration.
Make any necessary updates to coverage, limits, or insured items on the quote.
Once the quote is ready to bind:
- Convert to Policy and perform the billing transaction, or
- Generate the transaction while it is still a quote if you need to collect payment before binding.

6️⃣ Generate Transaction & Invoice

Go to the Billing tab on the new policy (or quote, if collecting pre-bind).
Add any endorsements/fees/taxes needed.
Click Generate Transaction to create receivables/payables.
Verify the Checksum is zero.
Create the invoice from Documents → Invoices/Receipts.

7️⃣ Communicate with the Insured

Provide the insured with the new policy documents and effective date.
Confirm any payment changes, refund expectations, or financing updates.
Update any certificate holders or additional interests as needed.

✅ Best Practices:

Always note “Rewrite” in the subject or description for easy search in AMS.
Keep both the canceled and rewritten policies in the insured record for history.
If the rewrite changes the carrier, notify the old carrier of cancellation and the new carrier of binding without delay.