Aavrani, a premium health and beauty company, has been making waves in the e-commerce world with its unique approach. Inspired by India’s ancient beauty rituals, this dynamic brand has recently raised $7M in a Series A funding round to support its incredible brand growth. Their journey, marked by innovation and rapid expansion, underscores their commitment to bringing the richness of traditional Indian beauty practices to a global audience.
The Challenge:
As Aavrani scaled, they faced a significant hurdle: their standard insurance policy from Hartford was set to renew at a 24% higher rate. This policy was crucial as it covered their ever-changing inventory of premium beauty products, which fluctuated weekly based on customer orders and new stock arrivals. Predicting inventory levels throughout the year was a complex task, often leading to instances where their coverage fell short, putting their valuable stock at risk. Despite efforts to find solutions tailored to their unique e-commerce needs with their previous broker, Aavrani struggled to find an effective solution.
The Results From Working With Sparx:
An 18.1% savings on their insurance policies.
A turnaround of just 24 hours for each policy purchase.
Access to Sparx’s proprietary platform, which shopped original quotes against 150 insurance partners in a day, culminating in a policy with superior coverage at an 18.1% lower price.
This strategic approach not only saved Aavrani a significant amount on their policy but also provided them with coverage that was more accurately aligned with their operational model as an e-commerce brand. Insurance companies, recognizing the reduced financial risk presented by Sparx’s clients, offered substantial discounts on the same policies.
The Solution:
Enter Sparx. Known for their innovative approach to business insurance, Sparx took on Aavrani’s challenge with gusto. Within an impressive 24-hour timeframe, Sparx provided quotes for Aavrani’s Business Owners’ Policy and Property Coverage. The real game-changer was Sparx’s ability to offer flexible coverage limits that adapted to Aavrani’s fluctuating inventory, a perfect fit for the e-commerce model. This bespoke solution was made possible by the Sparx platform– a system that leverages proprietary pricing from insurance companies, an advantage unmatched in the industry.
"If you’re an entrepreneur looking to manage insurance — you have to check out what Sparx is building! They took the headache out of the process and tailored it to us as an ecommerce brand."
Aavrani’s story is a testament to Sparx’s ability to understand and address the unique needs of modern businesses. Sparx continues to redefine the landscape of business insurance, offering solutions that are not only cost-effective but also deeply aligned with the operational realities of their clients. Whether you’re a small startup or a rapidly growing e-commerce platform, Sparx’s innovative approach can transform the way you manage insurance, just as it did for Aavrani.