Setting Collision Event for a Group of Pawns?

I want my bullet projectile to register and take the same course of action each time it hits a monster (no matter what type of monster). Setting a collision event for each monster separately seems unnecessarily tedious. Is there a way to classify every monster into some kind of group, and then make the one collision event apply to all of the pawns from that group? Also quick question, for projectiles, should I have on hit collisions, or overlap?

Edit: I just stumbled upon Tags. Would Tags be the way to go?