Spark

2023 was a breakout year for Spark. We partnered with 100+ leading agencies serving 3,400+ brokers, and enrolled 60,000+ beneficiaries. We’re carrying that momentum into 2024 with two announcements: First, we’ve raised a $25 million Series B, led by Drew Aldrich at Viewpoint Ventures. We’re particularly proud of this milestone given the challenging fundraising climate right now. Second, we’re launching the new Spark brand. Our new visual and verbal identity better captures our ambition, and articulates just how much we have to offer our partners. Our new website is a celebration of our partners, our performance to date, and the incredible trajectory we are on together. Here’s a taste: - Last year, we saved partner agents 400,000 cumulative hours, freeing them to focus on revenue generating activities - Across our largest agency partners representing >70% of our business, we’ve seen an astounding 140% enrollment growth year-over-year - Through this growth, we maintained a agent NPS of 91, affirming the value we bring to our customers and our commitment to service Our co-founder and CEO, James Jiang, writes in-depth about all these topics and this year’s vision for the organization on the Spark blog. You can read more here: https://hubs.ly/Q02htCMC0. The future is bright, and our team is ready to get back to work. We’re grateful to be on this wild journey with the industry’s best.

Senior Strategic Growth Manager, Ruben Diaz, was recently featured on the Apex Edge Podcast. Ruben shared his 20+ years of industry expertise and insight into how Spark is transforming the lives of brokers nationwide through technology and dedicated service teams. Special thanks to Filip Lundstedt and Taton Wells from ProCare Consulting for hosting Spark on the podcast and for your ongoing partnership! Are you ready to build the business of your dreams? Book a demo: https://hubs.ly/Q02HQ9hS0 #Spark #InsuranceInnovation #AgencyGrowth #Partnership

What could you do if you had 8 more hours each week? The industry’s best agency principals trust Spark to run their back office. It’s one of many ways we take work off their plate, empowering them to do what they do best: lead the teams they’ve built. Brent Crawley of The Premier Agency, one of our top agencies in Arizona, shares how he can now focus on the growth and retention of his agents: "Spark has given me more of my time back. I get to hang out with my agents more because I’m not doing as much of the administrative stuff. They gave me my relationship with my agents back." By encouraging agents to use the Spark platform and services to manage their back office, TPA agents have more time to focus on growing their businesses. In fact, 71% of TPA agents log into the Spark platform daily! Ready to get your time back? Book a demo: https://hubs.ly/Q02J6bxG0

Spark’s technology and services help the industry’s best principals run their agencies more efficiently. Better tools enable agencies to deliver better service to their agents and clients alike—and save principals both time and money. Today, we are excited to highlight Health Plan Markets and Justin Jacobs our valued agency partner based in Orlando, Florida. Justin shares, "We were trying to build the technology Spark already had, which saved me a lot of money and frustration. It’s been a game changer not only for me and my staff but also for our agents and agency principals." Ready to be a part of the transformation? Book a demo: https://hubs.ly/Q02J6bxG0

Our sales team has been working hard to connect with our agency partners in the field, building strong relationships, and attending industry events.  Here are some of this month’s key events attended by our team and agency partners: ⭐ Our VP of Sales, Henry Figueroa and Strategic Growth Manager, Mark Keadle, alongside our Director of Marketing, Erin Tao attended the 2024 North American Insurance Services hosted by our trusted agency partner Andy Dastur. Henry commanded the room educating 50+ agents on how to transform their businesses with Spark. ⭐ Our Strategic Growth Manager, Elin Smith joined Wealth Alliance Group with partners Kevin Brown and Donald Doe Jr at the 8% Nation Insurance Wealth Conference to connect with industry leaders in Missouri. Looking for a true partner, not just an FMO? Book a demo today: https://hubs.ly/Q02HQ9hS0

🚨 Update! Yesterday, CMS released updated Agent and Broker Compensation Rates, Submissions, and Training and Testing Requirements for the contract year 2025 (July 18th, 2024). In response to the stay granted on the pending litigation against CMS in Texas, CMS has updated the fair market value (FMV) commission for Medicare Advantage and Part D brokers to remove the $100 increase in year 1 and $50 increase in year 2 and beyond originally proposed. As we learn more from CMS, we will keep you updated with any news and future developments. Check out the ruling and updated broker commission schedule: https://hubs.ly/Q02HjsD80 #CMS #MedicareAdvantage #IndustryNews #AEP2025

⭐ This week we’re shining the spotlight on Amanda Roberts, our Client Services Lead! Amanda has been with Spark since the very beginning. As our very first Client Services team member, Amanda paved the way - setting a new industry standard by working directly with Medicare beneficiaries to answer billing questions, find doctors, and clarify policy coverage details. Amanda explains it best: “Current Medicare beneficiaries are on the cusp of technology, and the insurance industry is difficult for a lot of them to navigate - what Spark has built is amazing, and it’s helping a lot of people!” Amanda’s positive attitude and relentless hard work ensure our beneficiaries receive top-notch care, and our agents save valuable time and money. Amanda's impact doesn’t stop there. She’s also a go-to mentor for newer team members, always ready to answer questions and provide assistance. She has been instrumental in shaping our Client Services team into the innovative support system it is today. Living in Veneta, Oregon, Amanda is enjoying a beautiful Pacific Northwest summer by hiking, kayaking, and epoxy crafting.  Looking to learn more about Spark’s client services team? Check out our interactive walkthrough: https://hubs.ly/Q02H8vPX0

There’s nothing like Spark’s Client Service team in the industry. We’re the only national FMO directly serving our partners’ clients as an extension of their support team. A couple of weeks ago, our co-founder and COO Byron Edwards and Director of Client Services Khalilah Salahud-Din led a team retreat in Fort Lauderdale, Florida. Their primary focus? Improving processes to support team efficiency, the agent experience, and, ultimately, the client’s interaction with Spark! What can you expect from Client Services this AEP? Even better service, leading to more referrals, better retention, and peace of mind. It’s one of many ways Spark makes agents’ lives easier. Want to see Client Services in action? Check out our demo here: https://hubs.ly/Q02G-p6f0 #TeamRetreat #ClientServices #SparkAdvisors #FtLauderdale #TeamBuilding #ProcessImprovement

Spark has been selected by The Generalist for the inaugural Future 50, a database of the world’s highest-potential startups. We are honored to join 50 companies selected from 11 countries across various sectors. Why were we chosen? ⭐ The Opportunity: 4.1 million Americans are turning 65 this year. Despite booming Medicare enrollment, the number of brokers is declining. 🚀 Our Solution: As the industry’s fastest-growing FMO, Spark empowers independent Medicare brokers with technology and services, enabling them to better serve beneficiaries and experience transformative growth. 📈 Our Impact: 5,000 brokers in 4 years 60% daily active users 91 NPS & 96% client satisfaction 90% average production growth for brokers 50% increase in agent recruitment for agencies Check out the full article here: https://hubs.ly/Q02GPSLN0 #Future50 #Startups #Innovation #Medicare #Spark

Meet Pam Harrison, Medicare Trainer and Compliance Lead at Spark ✨ As Spark’s in-house compliance expert and Medicare trainer, Pam provides training for new and experienced Medicare agents alike. Pam’s deep understanding of the agents we serve (she was a former insurance agent for over 5 years!) and her ability to translate complex regulations make her an invaluable partner. Pam’s day consists of creating training modules for agents and delivering that training via webinars and video recordings. She’s the go-to person for agents and Spark staff with information about Medicare, such as Special Enrollment Periods, Extra Help and Medicaid, and general Medicare beneficiary questions. She also works in compliance, reviewing marketing materials and working with agents and carriers to stay on top of the latest CMS guidelines. ⭐Why Pam chose Spark: “I was really attracted to Spark because we are doing things differently than other FMOs. It was refreshing to see a FMO shaking up the industry and focusing on technology and systems to help agents build the insurance business of their dreams.” ⭐ On what it’s like to work with agents: “I love training and educating agents on the insurance business, and to see them grow and succeed is really rewarding.” In her free time, Pam enjoys camping and exploring her home state of Tennessee with her husband. Be sure to sign up for Pam’s upcoming training in your platform account: https://hubs.ly/Q02FF6pN0 #EmployeeHighlight #MedicareTraining #Compliance #CompanyCulture