Eyewear Protection Insurance

Boost conversions, revenue and customer satisfaction when selling eyewear in the UK

Woman wearing a white t-shirt, smiling outdoors with a neutral background, wearing white sunglasses protected by LOXA eyewear insurance.

Offer 1-Year Product Protection at checkout to increase conversion, enhance customer value, provide peace of mind, and unlock a new revenue stream.

We’ll repair or replace items that are stolen or damaged accidentally, sourcing any replacements needed from the original retailer - increasing customer satisfaction and reducing the burden on your customer support.

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The Options

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Optometrists

Offer patients 1-Year Product Protection at checkout to increase conversion, enhance patient value, provide peace of mind, and unlock a new revenue stream.

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Online

Offer 1-Year Product Protection at checkout to increase conversion, enhance customer value, provide peace of mind, and unlock a new revenue stream.

Our insurance solutions securely integrate into your physical and/or e-commerce store – whether you operate as an optometrist or run an online retail business. Integration is available via our instore portal, which includes FAQs, staff training (including mandatory onboarding modules), and point-of-sale materials such as leaflets, pricing information and posters/banners as needed. Alternatively, integration can be achieved through our Shopify app, native apps for Magento and BigCommerce, or API compatible with platforms like WooCommerce.

Our expert team will support you through the deployment process, so that you’re servicing your patients or customers with the insurance in no time, with minimal disruption to your business operation.

Person interacting with a tablet displaying a sunglasses shopping page. The screen shows a pair of unisex sunglasses priced at £150.00, with color selection options. A "try on virtually" feature and a LOXA eyewear insurance offer are visible.
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Trusted by our retail partners

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“We’re extremely pleased with our engagement with Loxa who have created an excellent route for us to seamlessly offer insurance to our prescription glasses and prescription sunglasses customers. We chose to implement Loxa in both our Maverick & Wolf Optometrists and our flagship website, where the ease of integration with our existing platform has been particularly impressive.

The Loxa team has been incredibly supportive throughout the process, and we look forward to expanding our relationship and making Product Protection a key differentiator for our customers throughout the Fashion Eyewear estate.”

Steven Westwood, Head of Sales and Marketing at Fashion Eyewear

Benefits

Offering customers protection at point of sale against perils such as accidental damage and theft is shown to:

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    Enhance customer loyalty and experience

    60% of online shoppers say insurance options offered at checkout would increase odds of making purchase (1)

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    Add a new source of income and boost conversion, aiding your bottom line

    Sitewide conversion rate increase of 11% (2) and protection plan attach rate of up to 40% (3)

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    Differentiate your brand in a competitive market

    Customers willing to pay +21% when considering product protection for purchases (4)

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    Extend the life of products and promote the circular economy

    A 2022 survey showed that 81% expressed that companies should be encouraging people to fix their broken items (5)

You can also service replacements for the wholesale value of the insured item +20% margin.
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Cover

This insurance protects an item of eyewear from accidental damage that renders the item beyond use, and theft. The cover also applies for up to 30 days abroad.

Customers of prescription glasses and prescription sunglasses also benefit from there being no contribution (excess) payment required toward any claim. For non-prescription sunglasses, the customer will be required to pay 10% toward the cost of a claim, with a minimum contribution of £25.

Please note that we can only provide the cover to UK residents and damage in transit, normal wear and tear, and any deliberate harm or neglect, are not covered under the insurance scheme.

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Claims

All claims are handled by expert Claims Handlers at Great American Europe Limited who use a specialist repair centre to assess and repair damaged items, if they can. If not, they will arrange a like-for-like replacement, or reimburse the customer to the financial value of the item via a voucher for your store, keeping the customer in your ecosystem.

Stolen items will require a police incident report and will also be replaced on a like-for-like basis, or customers will be reimbursed to the financial value of the item via a voucher to your store.

Scheme Pricing

You will retain a percentage of the insurance premium received for each policy you distribute, exclusive of Insurance Premium Tax and administration fees. We’ll bill you monthly for the remaining proportion of the premium collected.

Insurance premiums start at:

£14.99 for prescription glasses

£19.99 for prescription sunglasses

£24.99 for non-prescription sunglasses

Getting started

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You will need to complete our onboarding form here, which will include KYB screening. We will then issue you with our contract to sign and arrange a kickoff call to ensure integration goes smoothly.

Do you need to be regulated?

Simply put, our ToBA will allow you to “offer or arrange” insurance contracts that are complementary to your products without being subject to regulation by the Financial Conduct Authority (FCA), by utilising the ‘Connected Contracts’ exemption 

(see PERG 5.11.13 G & ICOBS 2.6.1R).

Who provides the Insurance?

This insurance is underwritten by Great American International Insurance (UK) Limited, which is authorised by the Prudential Regulation Authority (PRA) and regulated by the FCA and the PRA in the United Kingdom (FCA no. 202874).

Loxa is the Policy Administrator and an insurance intermediary authorised and regulated by the Financial Conduct Authority (FCA no. 1018666).

Our Claims Handler for the scheme is Great American Europe Limited who are registered in England under Companies House number 11231739.

Contact our team 

References

  1. PYMTS ‘Retail Product Insurance’ study (Jan-2020)

  2. Extend ‘BlendJet’ case study (2021)

  3. Extend ‘The Dufresne Group’ case study (2024)

  4. Cover Genius ‘The Retail Protection Report’ (Jan-2024)

  5. Circular. ‘Making the case for reuse’ (Nov-2022)