What does Reserv do?
Reserv is a tech-enabled, data-driven third-party administrator that leverages advanced automation and integration technologies to close significant gaps in the insurance claims process. The company’s flexible technology stack partners with multiple LLM vendors to offer tailored solutions for various property and casualty insurance lines.
How much did they raise?
The company raised $25M in a Series B funding round led by Flourish Ventures, with participation from BCV, Altai Ventures, and Accenture Ventures. This round brings Reserv’s total funding to $55M.
What are their plans for the money?
Reserv plans to invest the funds in building enhanced claims automation models, accelerating integrations, and developing innovative non-claim modules. These initiatives are expected to streamline claim processes and drive operational efficiencies for its diverse client base, including MGA clients and carriers.
What have they achieved so far?
Since its founding in 2022, Reserv has rapidly expanded to over 350 employees across the United States and United Kingdom, and currently supports more than 80 MGA clients and 20 carriers across a wide range of property and casualty insurance lines.
