Policy Review/Rewrite Coordination

Overview

Policy Review/Rewrite Coordination ensures clients receive the best available coverage, pricing, and carrier fit during renewal or mid-term changes. The workflow identifies when a policy should be reviewed, facilitates comparison of alternative options, manages the transition to new coverage, and ensures continuous protection without lapses.

Best Practice: Always document evaluations, quotes, and client decisions directly in the insured’s record. Use Notes, Tasks, Opportunities, and Documents in Momentum AMS to track the entire rewrite process.

Related Workflows:

• Renewal Management – The starting point for most policy reviews.

• Retention Management – Often the trigger when a rewrite is needed due to dissatisfaction, rate increase, or competitive pressure.

1️⃣ Assess Policy for Potential Renewal

• Purpose: Identify policies needing review based on cost, carrier appetite, or client satisfaction.

• Workflow Goal: Decide whether to retain, remarket, or rewrite coverage.

How to do it in Momentum AMS:

1. Navigate to either:

   • Renewal Center – best starting point if the opportunity has not yet been created. From here, filter by premium increase, carrier status, or renewal management flags to identify policies needing review.

   • Renewal Overview – if an Opportunity already exists for the policy. This gives you direct access to the policy’s renewal pipeline stage and lets you continue the review process from within the insured’s opportunity record.

2. Open the Policy Details Page to review premiums, deductibles, endorsements, and discounts. Compare these to market standards.
3. Add a Note under the insured’s record titled Policy Review Evaluation – [Policy #], summarizing findings.
4. If a requote is needed, go to Activity History → Tasks → Add New, select Remarket or Rewrite category, and assign it to yourself or a CSR with a due date.
5. Link the Task to the Opportunityso it stays tied to the renewal process. 

2️⃣ Search for Alternative Coverage Options

• Purpose: Gather and evaluate competing options.

• Workflow Goal: Find alternative carriers/programs that improve price or coverage.

How to do it in Momentum AMS:

1. From the Policy Details Page, export or copy coverage details (limits, premiums, deductibles, claims history).

2. Identify carriers via carrier appetite guides or directly in Momentum Rate!.

3. Run new quotes by:

   • Momentum Rate! → Start New Quote (auto-prefills insured data).

   • Carrier Portals – log in and run side-by-side quotes.

   • MGAs/Underwriters – email directly and save responses.

4. Upload all quote files to Documents → Add File, labeling each with the carrier and date.

5. Add a Note titled Quote Results – [Carrier] summarizing details, and set a Task for preparing the client presentation.

3️⃣ Compare Policy Quotes

• Purpose: Provide a clear side-by-side comparison for client decision-making.

• Workflow Goal: Create structured comparisons with clear recommendations.

How to do it in Momentum AMS:

1. Consolidate all quotes into a comparison format:

   • Use a Smart Form inside Momentum AMS (if enabled).

   • Or upload an Excel/PDF table with carrier, premium, coverage limits, and exclusions.

2. Upload the final comparison sheet to Documents → Add File and label it Quote Comparison – [Insured Name].

3. Add a Note summarizing recommendation, including why one carrier may be preferred.

4. Create a Task to present results to the client, assigning it to yourself or producer, and link to the Opportunity.

5. If using AMS-integrated email, attach the comparison file directly from Documents to the client message.

4️⃣ Transition Policy to New Coverage

• Purpose: Implement the selected quote and properly transition policies.

• Workflow Goal: Ensure the client’s chosen policy is bound, old policy canceled, and AMS updated.

How to do it in Momentum AMS:

1. Confirm client approval: record it in a Note (Client accepted [Carrier/Quote] on [Date]). Attach signed proposal in Documents.

2. Submit for binding through carrier portal or by emailing the underwriter. Save confirmation PDF to Documents.

3. Create a New Policy Record:

   • From insured’s Policies → Add New, enter carrier, LOB, effective date, and terms.

   • Link it to the renewal Opportunity.

4. Update the Opportunity Stage to Closed – Rewritten.

5. For the old policy:

   • Go to Policy Details → Actions → Request Cancellation, enter effective cancellation date, and upload proof to Documents.

   • Add a Note summarizing the cancellation submission.

5️⃣ Ensure Continuous Policy Coverage

• Purpose: Guarantee no gaps between expiring and new coverage.

• Workflow Goal: Verify alignment of cancellation and new effective dates.

How to do it in Momentum AMS:

1. Cross-check New Policy Record effective date with Old Policy expiration/cancellation date in AMS.

2. Upload carrier confirmation of cancellation to Documents → Add File, labeled Cancellation Notice – [Policy #].

3. Add a Note documenting final confirmation: Old policy canceled effective [date]; New policy effective [date].

4. Create a Task under Activity History to verify cancellation is processed by the carrier within 5–7 business days.

5. Once confirmed, close all outstanding rewrite-related Tasks and Service Requests.

✅ Result: By coordinating all steps inside Momentum AMS, your agency can fully document policy rewrites — from evaluation through binding and cancellation. This ensures compliance, eliminates coverage gaps, and creates a clear history for client retention and future renewals.