Latest news with #LelandInsurance
Yahoo
09-07-2025
- Business
- Yahoo
COVU buys California-based Leland Insurance
AI-powered insurtech firm COVU has continued its acquisition spree with the acquisition of Leland Insurance Services, a California-based independent agency. The financial terms of the deal have not been disclosed. Leland Insurance Services, led by Richard Herscowitz, is known for its portfolio of personal, commercial property and casualty (P&C) business. This transaction marks COVU's fifth acquisition. COVU said the acquisition is part of its broader mission to enhance the capabilities of insurance agencies by providing them with access to advanced technological infrastructure, operational support, and an AI-native framework, without the intention of replacing the agencies. Leland Insurance Services partners with several national carriers, including Nationwide, Safeco, Progressive, and Travelers. The company reports 'consistent' revenue growth and a 102% year-over-year policy and revenue retention rate, according to COVU. Post-acquisition, Leland Insurance Services will be integrated into COVU's operating model. COVU CEO Ali Safavi said: 'Leland is a great example of a high-performing agency that fits naturally into the AI-native future we're building. 'They're already running with the kind of discipline, service quality, and customer retention we value—and we're excited to carry that legacy forward through our platform.' The acquisition follows COVU's previous acquisition of Ford Insurance Agency, a family-owned entity with a longstanding history in Maine. Ford Insurance Agency, established and operated by the Lonsinger family, provides both commercial and personal insurance coverage in the Maine area. "COVU buys California-based Leland Insurance " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
COVU Announces Fifth Acquisition with Leland Insurance Services, Expands Operational Strength Across California
SAN FRANCISCO, July 08, 2025--(BUSINESS WIRE)--COVU, Inc., the leader in AI-native services for insurance agencies, today announced the acquisition of Leland Insurance Services, a well-established California-based independent agency known for its consistent financial performance, high client retention, and strong carrier partnerships. This acquisition marks the fifth in COVU's strategic rollout of agency partnerships designed to expand its AI-native servicing platform while offering agency owners flexible paths to scale or exit. Leland's operational discipline and seamless fit with COVU's hybrid model further solidify the company's foundation across California. "Leland is a great example of a high-performing agency that fits naturally into the AI-native future we're building," said Ali Safavi, CEO of COVU. "They're already running with the kind of discipline, service quality, and customer retention we value—and we're excited to carry that legacy forward through our platform." Built for Alignment, Not Disruption Led by Richard Herscowitz, Leland Insurance Services brings a stable book of personal and commercial P&C business, with exceptional retention and strong carrier relationships. The agency's structure and service model align tightly with COVU's remote-first, AI-supported infrastructure—making the transition both efficient and customer-friendly. This move is part of COVU's broader mission to enable—not replace—agencies by giving them access to powerful technology, operational support, and an AI-native framework that enhances their ability to serve. Carrier Strength and Book Stability Leland partners with top national carriers including Nationwide, Safeco, Progressive, and Travelers, and maintains strong loss ratios across both personal and commercial lines. With consistent revenue growth and 102% year-over-year policy and revenue retention, Leland adds immediate value to COVU's carrier strategy and California portfolio. Post-acquisition, the agency will fully integrate into COVU's operating model—eliminating traditional overhead while preserving the client experience. Enabling Growth, Respecting Legacy COVU's acquisition approach honors the work and relationships built by agency founders while unlocking a future powered by AI, human support, and operational excellence. Whether agencies want to modernize, retire, or simply park their book, COVU provides a solution that balances efficiency with empathy. About COVU COVU is a transformative platform designed to revolutionize the insurance servicing industry through AI-native solutions combined with human support. The company is dedicated to enhancing customer experiences and operational efficiency for insurance agencies while providing flexible servicing models to meet the demands of modern consumers. View source version on Contacts Media Contact: Sheny Plasenciapress@
