Locket is a new kind of home insurance that helps people to actively protect their homes and families with smart technology. The company made waves last week as its latest crowdfund on Seedrs raised more than £1 million from 430 investors, overfunding the campaign by more than 45%. It’s a demonstration of just how popular the company’s “prevention is better than cure” philosophy is proving with homeowners and renters across the UK. The campaign remains open for investment at the time of writing but is expected to close by 17th December 2021.
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Locket’s data shows that people who use smart technology are up to 35% less likely to suffer major damage to their homes. And because those homes are significantly safer, Locket home insurance is available at very competitive rates for many people across the UK. It’s a win-win model where customers get more of what they really want from insurance – safety, security, peace of mind – and often pay less for it, too.
“We feel as though traditional insurance misses the point”, says CEO and co-founder Krystian Zajac. “You buy insurance to protect the things you love, but it does nothing to actually protect you. It just tries to compensate you after the damage is already done”. But many of the most valuable things in life can’t be replaced with money, Zajac points out – family heirlooms, photo albums, or a child’s favourite teddy. Or even just the sense that your home is a safe place – around 60% of burglary victims say they never feel safe at home again, and many ultimately end up having to move house. Locket’s approach emphasizes proactively protecting those things in the first instance, and makes payouts a secondary safety net rather than the sole feature of home insurance.
Locket has already created an alliance of leading, global smart home manufacturers including Ring video doorbells, Yale smart locks and Philips Hue smart lighting. Zajac says they plan to partner with many more in the near future and expand their offering into new insurance verticals such as intelligent cover for AirBnB lets. “People live in a world where they can summon food, products or transport to their door in a couple of swipes on a smartphone”, says Zajac. “And yet over here in insurance, 86% of providers say fax is still a crucial part of their business. We think it’s time the industry caught up”.
View the Locket Campaign on Seedrs– Closing Friday 17 Dec 2021.
Statistics correct at time of writing. Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. This blog post has been approved as a financial promotion by Seedrs Limited, which is authorised and regulated by the Financial Conduct Authority (No. 550317)