Lovethorn, a new player in the insurance industry, has successfully completed its pre-seed investment round, marking a key stage in its development. This achievement reflects investor confidence in Lovethorn’s approach to modernising insurance.
Strengthening their leadership, Lovethorn has appointed Richard Purcell as their first non-executive director. This move aligns with the company’s strategy to enhance its expertise in the field.
Focused on reshaping the insurance sector, Lovethorn’s first product aims to improve income protection underwriting and reduce claims.
Founder and CEO James Lovett said: “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.”
Further emphasising the strategic importance of their new appointment, Lovett remarked, “The appointment of our first non-executive is a testament to our commitment to assembling an expert leadership team.
“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.”
