We weren't good enough in the vital moments - Mathew Ryan
The Seagulls fell behind in the Premier League clash after just ten minutes when Demarai Gray was given too much time and space to slot home.
Glenn Murray blazed over a golden opportunity to level early in the second half, before Jamie Vardy drilled home the Foxes' second after 63 minutes.
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Hide AdDavy Propper got a goal back three minutes later but Albion were unable to find an equaliser as their winless run in the Premier League increased to seven games.
Reflecting on the defeat, Ryan said: "It was a game where we could have taken something from but at the end of the day we only have ourselves to blame.
"We weren't good enough in the vital moments. They took their chances and we didn't take ours.
"Both ends of the pitch is what cost us. When I arrived at the club, the club had based its success on its defensive structure and being solid and difficult to break down.
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Hide Ad"I feel we've lost that a little bit. Teams have been creating opportunities with too much ease and we've lost our identity in that aspect a little bit.
"It's a frustrating thing and at the other end of the pitch when we're not taking our chances it's difficult.
"We've proven all year we can score goals and if you keep a clean sheet, the worst case scenario is you're going to draw the game.
"I'm not singling anyone out, I'm talking collectively here. As a team we haven't been good enough at either end of the field and that's what hurting us at the minute."
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