Loxa eyewear protection insurance
Loxa raises £2.7m to bring protection to the £5.5bn UK eyewear retail market
The UK eyewear market is worth £5.5 billion, serving nearly 59 percent of the population who wear spectacles. Yet most eyewear purchases come with no protection once the customer leaves the store.
According to research from the Association of Optometrists, 19 percent of UK adults wear broken, self-repaired glasses, while 36 percent use outdated prescriptions. For many, the cost of replacing damaged eyewear is simply too high.
London-based insurtech Loxa believes this gap can be solved by integrating insurance directly into the purchasing process.
£2.7 Million Investment to Embed Insurance at Checkout
Loxa has raised £2.7 million in Seed funding to expand its platform, which allows accidental damage and theft protection to be offered during the eyewear purchase journey.
Instead of searching for coverage after leaving the store, customers can add protection at checkout or during the prescription process.
According to Jamie Hamer, Co-Founder and CEO of Loxa, the industry has lacked the infrastructure to provide this option.
“Eyewear retailers and optometrists have never had the tools to protect their customers at the point of purchase. Retailers can’t of er it at checkout. Optometrists can’t of er it at the point of prescription. That gap has existed for years. We’ve built the infrastructure to close it, for optometrists, eyewear retailers, and the optical chains that have never been able to of er this before. This investment is how we make protection a standard part of how customers in the UK and beyond experience their eyewear purchase.”
Embedded Insurance for Eyewear Retailers Built for Modern Commerce
Founded in 2023, Loxa already works with more than 45 retail partners across several industries. Its technology integrates with major ecommerce platforms including Shopify, Magento, WooCommerce, PrestaShop, and BigCommerce.
Retailers can activate protection programs in as little as 48 hours, allowing even smaller optical stores to offer insurance as part of their sales process.
Operating as a full-stack Managing General Agent (MGA), Loxa can also design tailored insurance schemes for specific retail categories, including eyewear.
Loxa Insurtech Eyewear Retail Expansion Across Europe
With the Seed round complete, Loxa is preparing for its next growth phase. Erjon Skora, Co-Founder and Managing Director, joined the company with more than 16 years of experience across insurance and financial marketplaces, including his previous role at Cover Genius.
The company now plans to expand its embedded insurance platform across Europe, aiming to make product protection a natural part of the retail experience.
For the optical industry, that could mean a future where buying new glasses no longer marks the moment protection ends, but the moment it begins.
About Loxa Insurtech
Loxa is a UK insurtech company that specializes in embedded product protection for retail, enabling merchants to offer accidental damage and theft coverage directly at the moment of purchase. Founded in 2023 and authorised by the Financial Conduct Authority (FCA), the company focuses on integrating insurance seamlessly into the customer journey, allowing protection to be offered during checkout or alongside the prescription process in optical stores.
The platform integrates with major ecommerce and retail systems, allowing opticians and eyewear retailers to activate protection plans quickly without complex infrastructure.
By embedding coverage into the purchase flow, Loxa helps retailers protect customers while creating a new revenue stream.
With its technology-driven approach, Loxa aims to make product protection a natural part of the retail experience, particularly in sectors where products represent a significant personal investment, such as eyewear. By combining insurance expertise with retail technology, the company is building a platform that allows retailers of all sizes to offer fair and transparent coverage at the exact moment customers need it.
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