Loxa: Pioneering Product Protection in the UK Insurtech Landscape
May 9, 2025, 3:36 am
In the bustling heart of London, a new player is reshaping the insurance landscape. Loxa, an insurtech firm, has recently secured £1.69 million in seed funding. This funding marks a significant milestone for a company that aims to revolutionize product protection for retailers and consumers alike.
Founded in 2023, Loxa, formerly known as Bolt Cover, is on a mission. The company provides retailers with the tools to offer product protection at checkout. Think of it as a safety net for repairable items—furniture, eyewear, power tools. It’s a fresh approach to insurance, one that prioritizes repair over replacement.
The funding round was led by the Angel Investment Network, which contributed £125,000. This backing is more than just financial support; it’s a vote of confidence in Loxa’s vision. The firm’s founders, Jamie Hamer and Tori Hutchinson, bring a wealth of experience. Hamer has a proven track record in scaling ventures, while Hutchinson has held senior roles in global companies. Their combined expertise sets a strong foundation for Loxa’s ambitious plans.
Loxa’s model is simple yet effective. By partnering with established insurance companies, they offer embedded insurance solutions. Retailers can seamlessly integrate these solutions into their sales processes, both online and in-store. This means that when a customer buys a product, they can also opt for protection coverage. It’s a win-win: retailers enhance their offerings, and consumers gain peace of mind.
The company’s goal is clear. By 2026, Loxa aims to provide a consumer product-specific alternative to traditional home insurance. This vision addresses a significant gap in the market. Many consumers feel overwhelmed by conventional insurance options. Loxa simplifies the process, making it accessible and user-friendly.
The funds raised will be used to complete Loxa’s tech stack. This is crucial for scaling their technology. They plan to integrate with various websites and EPOS systems. This will allow retailers of all sizes to offer product protection effortlessly. Whether it’s a small boutique or a large chain, Loxa’s solutions can fit seamlessly into their operations.
Loxa’s initial focus will be on power tools. This is a strategic choice. Power tools are often expensive and prone to damage. By offering protection for these items, Loxa taps into a market that values security. It’s a smart move that positions them as a leader in the product protection space.
The insurtech landscape is evolving. Traditional insurance models are being challenged by innovative startups like Loxa. Consumers are looking for more tailored solutions. They want insurance that meets their specific needs. Loxa’s approach aligns perfectly with this demand.
The company’s vision extends beyond just product protection. They aim to rebuild trust in the insurance industry. Many consumers view insurance as a necessary evil. Loxa wants to change that perception. By focusing on repair-first insurance, they highlight the value of keeping products in use rather than discarding them.
Loxa’s journey is just beginning. The firm is poised for growth. With the right funding and a clear vision, they are set to make waves in the UK market. Their commitment to empowering retailers and enhancing consumer value is commendable.
As they move forward, Loxa will need to navigate challenges. The insurtech space is competitive. Established players will not easily relinquish their market share. However, Loxa’s innovative approach gives them an edge. They are not just another insurance provider; they are a partner for retailers.
The company’s success will depend on execution. They must deliver on their promises. Building a robust tech stack is essential. Retailers need a seamless experience. If Loxa can provide that, they will gain traction quickly.
Consumer education will also play a vital role. Many shoppers are unaware of product protection options. Loxa must raise awareness and demonstrate the benefits. This will require strategic marketing and partnerships.
In conclusion, Loxa is a breath of fresh air in the insurtech sector. Their focus on product protection is timely and relevant. With significant funding and a strong team, they are well-positioned to disrupt the market. The journey ahead is filled with potential. If they stay true to their mission, Loxa could redefine how consumers view insurance. The future looks bright for this innovative firm.
Founded in 2023, Loxa, formerly known as Bolt Cover, is on a mission. The company provides retailers with the tools to offer product protection at checkout. Think of it as a safety net for repairable items—furniture, eyewear, power tools. It’s a fresh approach to insurance, one that prioritizes repair over replacement.
The funding round was led by the Angel Investment Network, which contributed £125,000. This backing is more than just financial support; it’s a vote of confidence in Loxa’s vision. The firm’s founders, Jamie Hamer and Tori Hutchinson, bring a wealth of experience. Hamer has a proven track record in scaling ventures, while Hutchinson has held senior roles in global companies. Their combined expertise sets a strong foundation for Loxa’s ambitious plans.
Loxa’s model is simple yet effective. By partnering with established insurance companies, they offer embedded insurance solutions. Retailers can seamlessly integrate these solutions into their sales processes, both online and in-store. This means that when a customer buys a product, they can also opt for protection coverage. It’s a win-win: retailers enhance their offerings, and consumers gain peace of mind.
The company’s goal is clear. By 2026, Loxa aims to provide a consumer product-specific alternative to traditional home insurance. This vision addresses a significant gap in the market. Many consumers feel overwhelmed by conventional insurance options. Loxa simplifies the process, making it accessible and user-friendly.
The funds raised will be used to complete Loxa’s tech stack. This is crucial for scaling their technology. They plan to integrate with various websites and EPOS systems. This will allow retailers of all sizes to offer product protection effortlessly. Whether it’s a small boutique or a large chain, Loxa’s solutions can fit seamlessly into their operations.
Loxa’s initial focus will be on power tools. This is a strategic choice. Power tools are often expensive and prone to damage. By offering protection for these items, Loxa taps into a market that values security. It’s a smart move that positions them as a leader in the product protection space.
The insurtech landscape is evolving. Traditional insurance models are being challenged by innovative startups like Loxa. Consumers are looking for more tailored solutions. They want insurance that meets their specific needs. Loxa’s approach aligns perfectly with this demand.
The company’s vision extends beyond just product protection. They aim to rebuild trust in the insurance industry. Many consumers view insurance as a necessary evil. Loxa wants to change that perception. By focusing on repair-first insurance, they highlight the value of keeping products in use rather than discarding them.
Loxa’s journey is just beginning. The firm is poised for growth. With the right funding and a clear vision, they are set to make waves in the UK market. Their commitment to empowering retailers and enhancing consumer value is commendable.
As they move forward, Loxa will need to navigate challenges. The insurtech space is competitive. Established players will not easily relinquish their market share. However, Loxa’s innovative approach gives them an edge. They are not just another insurance provider; they are a partner for retailers.
The company’s success will depend on execution. They must deliver on their promises. Building a robust tech stack is essential. Retailers need a seamless experience. If Loxa can provide that, they will gain traction quickly.
Consumer education will also play a vital role. Many shoppers are unaware of product protection options. Loxa must raise awareness and demonstrate the benefits. This will require strategic marketing and partnerships.
In conclusion, Loxa is a breath of fresh air in the insurtech sector. Their focus on product protection is timely and relevant. With significant funding and a strong team, they are well-positioned to disrupt the market. The journey ahead is filled with potential. If they stay true to their mission, Loxa could redefine how consumers view insurance. The future looks bright for this innovative firm.