Online annuity and life insurance brand Gainbridge has signed as the new presenting sponsor of US motor racing event the Indianapolis 500.
The multi-year deal begins with the 2019 race on May 26, and also names Gainbridge as the Official Annuity and Life Insurance Partner of the IndyCar series, Indianapolis Motor Speedway and the Indy 500. Gainbridge replaces motor oil manufacturer PennGrade, whose three-year deal expired in 2018.
As Gainbridge expands nationally, the brand hopes its association with the Indy 500 will provide a strong platform for brand recognition and customer acquisition. Gainbridge products are currently available in Indiana, Illinois, Massachusetts and New Jersey, and the brand is expecting to expand its sales to several more states in the coming weeks.
The presenting sponsorship also deepens parent company Group1001’s involvement with events and competitors at IMS.
Since 2018, Group1001 has sponsored the Andretti Autosport car driven by American Zach Veach in the IndyCar Series. In yesterday’s (Thursday’s) announcement, Veach confirmed that Gainbridge will be the primary sponsor on his car in 2019.
Group1001 has also served as the presenting sponsor of the Indy Women in Tech Championship LPGA tournament at Brickyard Crossing Golf Course since 2018.