How to Add a New Policy in Momentum AMS

Step 1: Locate the Insured

1. Use the global search bar at the top of Momentum AMS to type a few letters of the insured’s name.

2. Alternatively, click Insureds from the left-hand navigation and search for the insured at the top of the list.

Step 2: Open the Insured’s Details Page

1. Click the insured’s name in the search results.

2. This will open their Details page, where all linked policies, documents, notes, and tasks can be accessed.

Step 3: Add a New Policy

1. Scroll to the Policies list section within the insured’s Details page.

2. Click Add New to open the policy entry screen.

Step 4: Enter Policy Information

Complete all applicable policy fields:

• Policy Number – As provided by the carrier.

• Effective Date – Policy start date.

• Business Type – Select New Business, Renewal, or Re-Run.

• Carrier – Select the issuing carrier.

• MGA – If applicable, choose the Managing General Agent.

• Finance Company – If premium financing applies, select the finance company from the list.

• Agent – Assign the correct agent if not already selected.

• Line of Business – Choose the correct coverage type (e.g., Commercial Auto, General Liability, Property, etc.).

• Billing Type – Select the appropriate billing type (Direct Bill, Agency Bill – PIF, Agency Bill – Monthly, Agency Bill with Outside Financing, etc.).

• Premium and Premium Breakdown – Enter the premium amount and any applicable fees or taxes.

Step 5: Save Changes

1. Scroll down and click Save Changes to store the policy record.

2. The policy will now appear in the insured’s policy list.

Step 6: (Optional) Generate the Transaction

If you are ready to set up billing and commission tracking:

1. From the policy screen, navigate to the Billing tab.

2. Enter the base premium, fees, and taxes.

3. Click Generate Transaction. This will calculate:

   • Agency and agent commissions

   • Receivables (if Agency Bill)

   • Payables (to carrier or MGA)

✅ Best Practice:
Always confirm the billing type and carrier/MGA selections before saving the policy. This ensures correct receivable/payable setup and prevents issues with commission reconciliation later.