COVU, Inc., a company specializing in AI-native customer servicing for the insurance sector, has announced its acquisition of Ford Insurance Agency, a family-owned business based in Maine with over a century of operation.
This acquisition marks COVU’s fourth strategic move, building upon its foundation for a national platform designed to offer independent insurance agencies options for growth or seamless exit. COVU’s mission emphasizes empowering these agencies through flexible, AI-native solutions that aim to protect customer relationships, enhance carrier value, and improve operational performance while maintaining a human element.
Gary Lonsinger, former owner of Ford Insurance Agency, stated, “With COVU’s support, the growth potential is significant. We chose to sell to COVU because they were the only buyer that offered a stock sale while preserving our brand and legacy, which provided confidence that our customers and our agency’s name would continue with the same level of care and reputation we built over generations.”
Ford Insurance Agency, founded over 100 years ago and operated by the Lonsinger family, has been a provider of commercial and personal lines coverage in Maine. The agency maintains relationships with carriers including Progressive, Safeco, The Hartford, Travelers, and CNA. Ford Insurance Agency has reported a 101% policy retention and 105% revenue retention, alongside an advantageous loss ratio record. COVU plans to transition Ford’s operations to its digital-first platform while retaining key service personnel. This approach aims to preserve the agency’s relationship-based culture while streamlining overhead.
The acquisition of Ford Insurance Agency follows three previous strategic deals by COVU:
* CIII Insurance Services (CA): A premium book of business focused on VIP servicing.
* Lords Insurance Agency (CA): A community-based agency with a significant Vietnamese client base.
* Uno Insurance Services (TX): A fast-growing, culturally fluent agency experienced in M&A.
These acquisitions are intended to enable COVU to achieve greater scale, strengthen carrier relationships, and provide consistent, high-quality customer service through a combination of AI and human expertise, whether via agency partnerships or full integration.
Ali Safavi, CEO of COVU, commented on the strategy: “We are not just acquiring agencies; we are building a robust servicing platform within the insurance industry. Our objective is to be a primary customer manager for all aspects of risk and insurance, delivered through our partners.”
COVU’s platform offers a dual pathway for agencies, allowing them to either evolve or transition out of the business. For agencies seeking growth, COVU provides modern infrastructure, staffing, and AI-native workflows. For those considering an exit, COVU offers a structured transition designed to maintain customer care and brand integrity.
COVU is positioned as a transformative platform designed to enhance the insurance servicing industry through AI-native solutions complemented by human support. The company focuses on improving customer experiences and operational efficiency for insurance agencies, offering flexible servicing models to meet contemporary consumer demands.
