COVU, Inc., a company based in San Francisco, has announced its acquisition of Ford Insurance Agency, a family-run business with over a century of history located in Eliot, Maine. This acquisition marks a significant step for COVU, which is on a mission to create a national platform that leverages artificial intelligence for customer service and risk analysis.
Ford Insurance Agency has been operated by the Lonsinger family and offers both commercial and personal insurance coverage. Gary Lonsinger, the former owner, expressed that the decision to sell to COVU was influenced by their unique offer of a stock sale. This arrangement allows the Ford brand to continue, ensuring that the care and reputation built over generations will be maintained.
COVU aims to support independent insurance agencies by using flexible AI solutions. The company believes that this technology can enhance customer relationships and improve operational performance without losing the personal touch that clients value.
As part of the transition, COVU plans to move Ford’s operations to its digital-first platform while keeping essential staff in place. Although the financial details of the deal have not been disclosed, it includes a three-year non-compete agreement.
This acquisition is COVU’s fourth, following previous purchases of CIII Insurance Services in California, Lords Insurance Agency in California, and Uno Insurance Services in Texas. The company is led by CEO Ali Safavi, who highlights their innovative approach, even stating that their team photos are generated by AI.
In February 2025, COVU announced an increase in its Series A funding to $22 million, bringing its total funding to $32 million. This financial backing will likely support its continued growth and expansion in the insurance technology sector.