IndyCar Series and Insurers and Insurance and Insurance Benefits and Motorsports and Auto Racing and Naming rights/sponsorships and Health Care & Insurance and Sports Business

IndyCar deal creates series-branded insurance plan

January 5, 2011

The IndyCar Series recently signed a three-year agreement with Dallas-based Global Corporate Alliance, a wholesale insurance buyer that will offer IndyCar-branded health insurance to fans.

The deal makes GCA the official insurance program of the open-wheel series. The company will offer members of the series' fan club, the IndyCar Nation, an insurance plan called IndyCar MD-Now for $19.95 per month. The plan provides doctor consultations by phone. Additional plans carrying a greater cost will offer more complete health care coverage.

Details on costs and benefits for those additional plans have not been made available.

The deal makes the insurance company a presenting sponsor of the series, said Terry Angstadt, president of the series’ commercial division. It also gives GCA branding opportunities at fan-interaction zones at tracks, puts its logo on IndyCar Series transporters and includes advertising on the series’ website as well as during ABC-TV and Versus race broadcasts.

Financial terms of the deal were not disclosed, but sources close to the series valued it at $1 million to $1.5 million annually.

One of the most important elements of the agreement, said a source with knowledge of the deal, is GCA’s access to the IndyCar Series’ fan-club database.

Under terms of the agreement, IndyCar Nation members will be automatically enrolled as members of the North American Consumer Alliance, which is a not-for-profit membership group that purchases insurance as a wholesaler directly from various insurance carriers.

GCA manages the North American Consumer Alliance and receives a monthly management fee from the alliance for every member, which gives the company an incentive to help grow the series’ fan club through marketing and promotional efforts of the IndyCar Series.
 

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