COVU, Inc., a leader in AI-native services for insurance agencies, announced on July 8, 2025, the acquisition of Leland Insurance Services, a California-based independent agency known for its financial performance, high client retention, and strong carrier partnerships. This marks COVU’s fifth acquisition, reinforcing its mission to empower agencies with AI-driven tools while preserving their legacy.
Acquisition Date: July 8, 2025, San Francisco, CA.
Target: Leland Insurance Services, led by Richard Herscowitz.
Portfolio: Personal and commercial P&C business with 102% year-over-year policy and revenue retention.
Carriers: Nationwide, Safeco, Progressive, Travelers.
Integration: Full transition to COVU’s remote-first, AI-supported model.
Previous Acquisitions: CIII Insurance Services (CA), Lords Insurance Agency (CA), Uno Insurance Services (TX), Ford Insurance Agency (ME).
Ali Safavi, CEO of COVU, stated, “Leland is a great example of a high-performing agency that fits naturally into the AI-native future we’re building.” Leland’s operational discipline and service quality align with COVU’s hybrid model, which combines AI automation with human expertise. The agency’s integration into COVU’s platform eliminates overhead while maintaining client relationships, leveraging AI for CRM, risk analysis, and marketing.
Led by Richard Herscowitz, Leland Insurance Services offers a stable book of personal and commercial property and casualty (P&C) business, with strong loss ratios and partnerships with top carriers like Nationwide and Travelers. Its 102% policy and revenue retention rate reflects exceptional client loyalty, adding immediate value to COVU’s California portfolio.
COVU’s acquisition strategy focuses on enabling agencies to scale or exit without compromising service quality. Its platform, resolving 33% of customer inquiries autonomously, reduces costs by up to 75% and enhances efficiency. With $32 million in total funding, including a $22 million Series A, COVU is expanding its AI-native marketplace, as noted in posts on X praising its growth (@Covu_Inc, @TheMiddleMarket).
The $80 billion U.S. insurance agency market is undergoing digital transformation, with AI adoption growing at a 25% CAGR. COVU’s acquisitions, including Leland, position it to lead in AI-driven insurance servicing, competing with firms like Applied Systems. The integration of Leland’s operations into COVU’s platform strengthens its California presence and carrier relationships.
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.
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