Reserv, a NYC-based provider of solutions to optimize any P&C claim, raised $8M in Seed funding.
The round was led by Altai Ventures and Bain Capital Ventures with participation from Arch Capital Group Ltd., AXIS Capital, Runyon, Rick Taketa, Jon McNeill, and Ahmed Khaishgi.
The company intends to use the funds to accelerate growth and expand operations.
Led by CEO CJ Przybyl, Reserv is a digital-native third party administrator (TPA) that also develops and sells software to power claims adjusters. The company leverages modern systems and creates new solutions to optimize any P&C claim, from complex data ingestion to automated coverage decisioning to dynamic customer experiences.
Carriers, MGAs, self-insureds, or any other claims organization can onboard Reserv following their standard TPA approval process. The company’s technology combined with customer service then creates a unique claims experience and provides real-time status, metrics, and reporting to everyone involved. The granularity of metrics across the entire process enables detailed analysis of each technology module which are independently available for purchase. Additionally, the entire platform configuration can be mirrored as-is and “lifted and shifted” to in-house resources, a simple and elegant alternative to traditionally costly claim system transformations, and a must-have for startup MGAs.
