Online insurance intermediary Rapid Insure has done a ground-breaking deal
in swapping equity for advertising time on Channel 5.
Rapid, which offers life and general insurance products, has linked up
with Channel 5 for a high-prof ile advertising campaign on the channel's
As part of the deal, Channel 5 has taken an 8 per cent stake in the
company in return for the exclusive sponsorship rights to thrice daily
The agreement is worth £1m in advertising time.
Channel 5 estimates that over the course of the year-long deal, Rapid
Insure's advertisements will be viewed by 58 per cent of the adult populatio
n or 26 million people.
Rapid originally approached the channel after reading an interview where
C5 officials expressed an interest in swapping advertisement time for
Rapid is also running an aggressive three-month campaign created by
Greenfield Computer Marketing that will target other traditional media
outlets and online sites.
Rapid business development director James Spalding says: “We will be able
to build our brand faster than we could have otherwise.”