FAQ
Insurance
More questions? Reach out to our team at [email protected]
Do I have to stop working with my broker if I use Sparx?
No! We will shop the policies 2 months before renewal, keeping each coverage and deductible in place but decreasing the cost of the policies.
How does Sparx save money on insurance?
Sparx’s financial risk software lessens the chance of a customer’s insolvency which is a major factor in carrier underwriting. Sparx is able to apply these credits with over 150 AM Best rated A+ carriers to get our customers guaranteed savings.
How much can I save with Sparx?
Take the savings assessment to find out!
Who will I be working with at Sparx on my insurance?
You will be assigned to your own risk manager who will be your point person on all insurance matters.
What carriers does Sparx work with?
Sparx is appointed by over 150 AM Best rated A+ carriers (highest creditworthiness score) such as Hartford, CNA, Chubb, AmTrust, Travelers, Zurich and Lloyd’s.
SaaS
How does Sparx detect my organization’s SaaS usage?
We aggregate all SaaS being used from your workspace managers (Google or Microsoft), SSO (Okta), and, if of interest, an encrypted browser extension (Google).
We analyze and monitor log-in and engagement events on browser-based SaaS apps, identifying what your organization is actively using.
How much can I expect to save on SaaS spending?
Sparx customers on average see a 30% reduction in SaaS spend between deactivating unused licenses, removing redundant SaaS apps, and negotiating their renewals knowing what their usage is.
How can I manage my SaaS sprawl?
We show you usage at the license level to see if an employee has been using the license purchased for a specific SaaS tool. You can filter based on usage data to see where you can trim licenses that are not being used.
We identify redundant apps for you to consolidate to further reduce your SaaS spending.
Cloud
For full FAQ and more in-depth docs, you can visit Antimetal's page here.
How soon can I expect to start seeing savings?
You will be able to start seeing savings through the dashboard as soon as your account is activated. Initial RI purchases are made incrementally to gradually cover more and more of your eligible workloads until maximum coverage and maximum savings are achieved at the end of the ramping period.
Does Sparx require any engineering work?
No. Getting started with Sparx only requires setting up an IAM policy and an IAM role in your AWS organization
How does Sparx offer cloud savings?
We have powered our cloud savings tool with our partner, Antimetal, to bring these features to our customers. You can expect some correspondence or billing to come from their brand.
Will buying Reserved Instances through Sparx change my AWS Bill?
We only purchase no-upfront RIs, meaning that you will not be charged more when an RI is purchased, and there will be no transaction reflected in your AWS bill. In the same way, when we sell no-upfront commitments, there are no funds being exchanged from AWS to your account.
What is Antimetal’s pricing structure?
Antimetal bills 10% of savings generated - no hidden fees, conditions, or surprises. Our savings are metered directly off the impact derived from our recommendation so that you are able to enact other cost saving measures as you wish.
Note: Sparx does not charge fees for this offering.
How does billing work?
All billing is done through Stripe or the AWS marketplace on the first of the month. If you have set up billing via the AWS Marketplace, you will be invoiced for the service as part of your AWS bill the following month, and we will send you a detailed breakdown of your bill as well.
Billing
How does Sparx monetize this service?
To start, Sparx does not charge for our software or sell data to advertisers. Instead, we only win when you win. For the discounted insurance policies we find, our brokerage makes a comission fee on these policies, scoring you a better rate or better coverage.
What is included in the free Sparx platform?
More than any savings tools could ever provide for free. We kill unused SaaS licenses through the Sparx SaaS platform, uncover hidden AWS savings through our Cloud platform, and provide a 100X brokerage experience through our Insurance platform, all at no cost to you.
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