Eight months after launching, with the vision to revolutionise risk in insurance, Lovethorn enter 2024 with the successful closure of its pre-seed investment round. In addition, they have appointed their first Non-Executive Director (NED), a highly experienced and respected industry figure, marking a significant step forward in bolstering their expert team.

Lovethorn is committed to its mission to align the interests of insurers and the insured, building a fair, efficient and sustainable insurance ecosystem.

Lovethorn’s first product to market improves and widens underwriting access, and proactively lowers claims, on income protection products.

The closure of the pre-seed investment round signifies a huge vote of confidence from investors who recognise Lovethorn’s fresh approach to a market that is ripe for change.

“We are taking great backing from a fantastic group of investors into 2024. Our immediate focus is income protection and looking forward, we are seeking interested and interesting insurers to help test and validate our product as we move through the year”.

Founder and CEO James Lovett

“The appointment of our first Non-Executive is a testament to our commitment to assembling an expert leadership team,” added Lovett. “We warmly welcome Richard Purcell, an actuary at Pacific Life Re, and his years of product development knowledge and expertise across both insurance and reinsurance. He will be instrumental in helping steer Lovethorn to success.”

About Lovethorn: Lovethorn has a vision for a world of perfect insurance. Perfectly fair, efficient, and sustainable. They’re here to change insurance. For good. They love risk and are passionate about navigating it through the new digital first world. Lovethorn sits between insurers, technology and wider societal good.