FAQ ID # 420
Gainsco BOL Process
Last Update : 2017/11/29
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Question / Issue
Gainsco: How the Consumer Bind Online Process Works (available in AZ, NM, & TX)

Answer / Solution

GAINSCO offers online binding through TurboRater for Websites in Texas. The process works as follows:

  • Client Clicks "Buy Now"
    • The client is then taken to GAINSCO's online insurance application.
    • On the application, the client will confirm the information they entered on the quote as well as be prompted for additional information GAINSCO requires to bind a policy.
  • Client completes the online insurance application
    • When the application is completed, the client will click next and their application will be submitted to GAINSCO to verify the risk is still acceptable and to confirm the quote.
  • The application is electronically underwritten
    • We confirm the client is still an acceptable risk for GAINSCO to bind online.  If we determine they are not, we will advise the client to contact the agent to complete their application.  We will also send you the agent an email to let you know your client's application needs to be processed manually.  An example of why an application is rejected could be undisclosed violations were found on the MVR.
    • If the application is acceptable, GAINSCO will provide an updated quote
  • Client chooses their desired pay plan, confirms the coverage, and e-signs the application.
  • After e-signing, the client enters their credit card information
    • The credit card is processed to ensure funds are available. 
  • The policy is bound
    • If the funds are available, the policy is bound.
    • The client is provided proof of insurance cards and a receipt for their credit card transaction
    • The client also receives three emails:
      • One email from GAINSCO, containing their policy documents
      • Two emails from TranzPay: one receipt, and one requesting an e-sign for the credit card charge
  • The down payment and, if applicable, your agency fee, is deposited into your agency's account by the credit card vendor, TranzPay
  • GAINSCO sweeps your account for their down payment.

Related FAQs
Potential reasons a GAINSCO policy will not bind online.
unsuccessful attempt to bind a GAINSCO policy

Direct Link to This FAQ

Bind Online Process Consumer TX Texas Gainsco BOL TranzPay Arizona New Mexico AZ NM

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