San Francisco-based COVU, Inc. announced it has acquired Ford Insurance Agency, a 100+ year-old, family-owned business based in Eliot, Maine.
Operated by the Lonsinger family, Ford Insurance Agency provides commercial and personal lines coverage.
This marks COVU’s fourth acquisition in its bid to build a national platform built around artificial intelligence (AI) based customer service and risk analysis.
“We chose to sell to COVU because they were the only buyer that offered a stock sale while preserving our brand and legacy, which gave us the confidence that our customers—and our agency’s name—would continue on with the same care and reputation we built over generations,” said Gary Lonsigner, former owner of Ford Insurance Agency.
COVU says it seeks to empower independent agencies through flexible AI that will “protect customer relationships, deepen carrier value, and elevate operational performance without replacing the human touch.”
COVU said it will transition Ford’s operations to its digital-first platform while retaining key service personnel.
The price was not disclosed. The transaction includes a three-year non-compete.
In February 2025, COVU announced that it had increased its Series A to $22 million, bringing its total funding to $32 million.
COVU previously acquired CIII Insurance Services of California; Lords Insurance Agency of California; and Uno Insurance Services of Texas.
COVU is headed by Ali Safavi, chief executive officer. The firm’s webpage identifying officers boats that it’s, “So cutting edge, even our photos are AI-generated.”
Topics Mergers & Acquisitions InsurTech Data Driven Artificial Intelligence
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