Online financial services platform Gainbridge has replaced PennGrade as presenting sponsor of the Indianapolis 500.
The announcement was made today during a press conference at the Indianapolis Motor Speedway featuring Indiana Governor Eric Holcomb, Hulman & Company president and CEO Mark Miles, Group1001 President & CEO Dan Towriss and IMS President Doug Boles.
Gainbridge is a “digital-first annuity and life insurance agency on a mission to equip people for action,” and by becoming presenting sponsor of the Indy 500 it will provide a key platform for brand recognition and customer acquisition.
The products Gainbridge offers are currently available to residents of Indiana, Illinois, Massachusetts and New Jersey, with service expanding to many more states in the coming weeks.
Gainbridge is one of the family of companies under Group1001, principal sponsor on Zach Veach’s Andretti Autosport-Honda IndyCar. The series sophomore will carry Gainbridge title sponsorship in 2019.
"We welcome Gainbridge to this new partnership with 'The Greatest Spectacle in Racing,'" said Miles. "Gainbridge offers a bold, new way to steady growth, and we're honored that the platform is being launched through this association with the Indianapolis 500 – an exciting global event with a rich history and a bright, dynamic future. It's a perfect fit.
“Gainbridge is a particularly interesting platform, from our perspective, because it's going direct to consumers and becoming a national brand very quickly. We love a partner that's going to consumers, and particularly targeting younger consumers, as Gainbridge will.”
Towriss added: "Gainbridge's simplified approach to delivering annuities empowers investors who seek to maximize performance, but stay out of trouble, amidst today's market volatility.
"In investing, like in racing, anything can happen. The key is to stay calm and have a strategy in place to hedge for the unexpected. The amazing parallels between Gainbridge's philosophy and racing make our Indy 500 partnership that much more meaningful."
Castroneves confirms Indy GP, hopeful of Le Mans drive
Acura is new title sponsor for Grand Prix of Long Beach