"Furniture retail has changed. Customers buy sofas and beds online as readily as they do in the showroom, but the protection on offer never made that journey with them," says Loxa, winner of this year's Best Newcomer award …
“Furniture is one of the most considered purchases a shopper ever makes. It is expensive, personal, and meant to last,” states the embedded insurance specialist.
“Yet for decades, the protection sold alongside it was a basic add-on from another era – a leaflet at the till, a form on the showroom floor, built for a world where every sale happened face to face. Customers never lacked the desire to protect what they buy – they lacked access to protection where they actually shop.
“And where they shop has changed. Nearly two in five UK furniture purchases now happen online, and the share is still climbing,” says Loxa. “Traditional protection programmes stayed where they started, so when the sale moved to the product page, protection did not follow. That left a gap at the moment of purchase, exactly when customers are most likely to say ‘yes’ to protecting what they have just chosen.”
Loxa, an FCA-authorised firm, says it closed the gap by bringing embedded insurance built for furniture retail, online and in-store: “Cover for accidental damage, stains, and structural defects once the manufacturer’s warranty ends. Offered in the same flow as the purchase itself, at the point of sale.
“Pricing is fair and transparent – the one-time premium is calculated dynamically on the price the customer actually pays, moving with promotions and discounts rather than sitting in fixed bands.
“Loxa fits wherever a retailer sells, offline or on any ecommerce platform. Shopify, Magento, WooCommerce, BigCommerce, PrestaShop or a custom build, Loxa integrates natively or through a flexible API, with retailers live in days. In-store, an intuitive portal brings the same protection seamlessly to the showroom and the phone, and Loxa's team walks every retailer through launch and beyond.
“The benefit runs both ways – retailers earn a new revenue line with zero operational lift, while their customers get years more from the furniture they love, with every part of the aftercare, claims, repairs and ongoing support, all managed by Loxa.”
And it seems the industry has responded. Loxa now works with more than 40 UK furniture retailers, including Dusk, Harbour Lifestyle, Nectar Sleep, Rowen Homes, Zofa, Furniturebox and Bed Kingdom, and says some furniture retailers are seeing organic attach rates of over 20% – a sign of real customer demand.
"Winning Best Newcomer means a great deal to the whole team," says Jamie Hamer, Loxa’s co-founder. "This recognition reflects the impact embedded protection has already made in helping the industry modernise. When leading retailers choose seamless, transparent, comprehensive protection for the furniture their customers love and invest in, it tells us furniture retail is ready to evolve, and that customers are ready with it.
“We're sincerely grateful to Furniture News and its readers, and we're only getting started.
“Great retail doesn't end at the sale. It's proven in the aftercare, and Loxa is setting the standard."
Loxa is an insurance intermediary authorised and regulated by the Financial Conduct Authority (FCA no 1018666).
Pictured from left: Loxa’s co-founders Tori Hutchinson and Jamie Hamer, and commercial lead (furniture) Archie Baker, celebrating Loxa's Best Newcomer win
