Company Profile: Reserv
Overview
Reserv is an innovative company specializing in AI-driven insurance claims processing. Headquartered in New York City at 99 Wall Street, the company offers comprehensive solutions to enhance efficiency, accuracy, and the overall claims experience within the insurance sector. With offices spread across North America, the United Kingdom, and the European Union, Reserv is well-equipped to manage claims underwritten on a global scale.
Mission and Value Proposition
Reserv aims to transform the insurance claims process using modern technology and advanced analytics. Their mission is to overcome traditional barriers such as outdated technology, inefficient data management, and suboptimal customer service. Reserv’s offerings are solution-centric, aiming to improve claim outcomes for Managing General Agents (MGAs), carriers, and claimants through a sophisticated AI-driven engine that assists adjusters by automating routine tasks and enabling focus on complex claim evaluations. This approach emphasizes rapid data processing and a personable customer interaction experience. Reserv's proprietary claims intelligence further optimizes decision-making in claims management.
Products and Services
- Advanced Analytics and Reporting: Provides a robust data warehouse architecture offering unlimited data access and automated reporting for underwriting teams.
- Global Claim Management: Fully licensed to handle claims in multiple regions, ensuring compliance and comprehensive coverage.
- Strategic Partnerships: Collaborating with various insurers, MGAs, and self-insured entities globally to provide exceptional claim outcomes.
- Innovation in AI: Continuous AI solutions development to support adjusters, facilitate decisions, and enhance client satisfaction.
Leadership
Reserv is guided by an experienced leadership team:
- CJ Przybyl: CEO and Co-Founder, responsible for overall strategy and execution, bringing experience from co-founding Snapsheet.
- Martha Dreiling: COO and Co-Founder, oversees operations with a background in insurtech and fintech.
- James Maddox: CTO, drives engineering innovations and AI development.
- Andrew Pedler: VP of Reserv UK, spearheads expansion in the Lloyd’s and UK markets.
- Caroline Mullineaux: VP of Claims, UK, brings two decades of cross-sector insurance experience.
- Maly Ohrenschall: VP of Claims, US, implements client-centric claims management.
- Jim Martin: SVP of US Casualty Claims, focuses on strategic management of complex cases.
- Denis Connolly: VP of Business Development, excels in advancing AI-powered solutions.
Strategic Initiatives and Achievements
Notable achievements include a $20 million Series A funding round to expand generative AI capabilities and recognition as a Delegated Claims Administrator by Lloyd’s of London. Strategic partnerships, such as with Accelerant, have led to new business lines and significant international growth.
Competitive Landscape
Overview
Reserv acts as a digital claims third-party administrator optimized for the Property and Casualty (P&C) claims sector. Focusing on creating data advantages, Reserv enhances workflow and analytical tools to streamline claims processing.
Primary Competitors
1. Sedgwick: Offers comprehensive risk and claims management solutions across industries. [Sedgwick Website](https://www.sedgwick.com/)
2. Gallagher Bassett: Provides extensive claims and risk management services, emphasizing innovative management strategies. [Gallagher Bassett Website](https://www.gallagherbassett.com/)
3. Lumera: Specializes in digital transformation within the Life and Pensions industry. [Lumera Website](https://lumera.com/en/)
4. Next Level Solutions: Focuses on digital transformation for P&C carriers. [Next Level Solutions Website](https://www.nlsnow.com/)
Financial and Market Position
Reserv has raised $8.6 million in funding and reports an annual revenue of $29.5 million with a workforce of 134 employees. Their strategy focuses on leveraging technology for efficient claims handling, offering a competitive advantage in the P&C sector and setting the groundwork for long-term partnerships with MGAs.
