International marine motorsport promoter Powerboat P1 has announced a three-year sponsorship agreement with leading insurance broker XINSURANCE. Established some 40 years ago in Sandy, UT, and regarded as an industry innovator offering customized specialty liability insurance for businesses and individuals, XINSURANCE will be an official partner of Powerboat P1.
The XINSURANCE name is already familiar to powerboat racing fans with the company being the principal sponsor of 345 Racing, a new Florida-based team competing in the UIM Class 1 World Championship, the pinnacle of offshore racing. The company adopts a partnership approach to both its business and sponsorship strategy, and has provided coverage for a diverse range of sports, activities and events including high-powered watercraft, dirt bike racing, helicopter skiing, parasailing, recreational venues, special events such as concerts and pyrotechnics as well as individual athletes. It focuses on providing solutions for specialty risks and the new partnership with Powerboat P1 provides a platform for showcasing its commitment to motorsports events.
An exciting element of the sponsorship will be for Powerboat P1 to use a seat in the A-Star XINSURANCE helicopter, to be designated the Official Broadcast Helicopter, for a race commentator or photographer at the upcoming P1 OFFSHORE SARASOTA GRAND PRIX 2022 (July 1-3) and the P1 OFFSHORE ST. PETE GRAND PRIX 2022 in early September. Powerboat P1 and XINSURANCE will cross-promote on all social and digital platforms, and the sponsorship will provide XINSURANCE with significant branding opportunities at the race events.
“This is an exciting time for us to provide support in an effort to help build, showcase and highlight the excitement of P1 Offshore racing and marine motorsports,” said Rick J. Lindsey, President and CEO of XINSURANCE. “We look forward to working with the team and coordinators nationwide who work diligently to organize and promote these exciting events. XINSURANCE has a history of sponsoring spectator events, athletes and professionals, and we now look forward to a successful relationship with Powerboat P1 in a growing market.”
Powerboat P1 CEO Azam Rangoonwala added, “Strategic partnerships play an important role in our business and we are looking forward to welcoming the XINSURANCE team and their helicopter to our two P1 Offshore events in Florida. We will be working closely with them to meet their business objectives.”