COVU Expands Insurance Platform with Fourth Acquisition
COVU Inc. has completed its acquisition of Ford Insurance Agency, a family-owned business based in Maine. The financial terms of the deal were not disclosed. This acquisition marks COVU’s fourth and is part of its broader strategy to develop a national platform supporting independent insurance agencies through a combination of technology and operational support.
Ford Insurance Agency, operated by the Lonsinger family for generations, has provided commercial and personal lines coverage through multiple carriers, including Progressive, Safeco, The Hartford, Travelers, and CAN. The agency has reported strong policy and revenue retention figures along with favorable loss ratio performance. As part of the transaction, COVU will integrate Ford’s operations into its digital-first servicing platform while retaining key personnel to ensure continuity in client relationships.
Gary Lonsinger, the former owner of Ford Insurance Agency, said the decision to sell was based on COVU’s ability to offer a stock sale while preserving the agency’s brand and legacy. He noted that these terms provided assurance that the agency’s name and customer relationships would be maintained. Lonsinger also expressed optimism about the agency’s growth potential under COVU’s ownership.
This acquisition brings COVU’s total number of deals to four. The other acquired agencies include CIII Insurance Services in California, focused on premium servicing; Lords Insurance Agency, also in California, which has a client base within the Vietnamese community; and Uno Insurance Services in Texas, a fast-growing firm with cultural fluency and M&A experience.
COVU positions its platform as a flexible solution for independent agencies, offering two pathways: growth through modern infrastructure and AI-native workflows, or a transition for owners seeking to exit the business. The company emphasizes that its model combines technological capabilities with human expertise to strengthen carrier relationships and maintain customer service standards.
Ali Safavi, CEO of COVU, stated that the company’s long-term aim is to develop a leading insurance servicing platform that supports agencies in managing risk and customer needs through collaborative partnerships.
