Reserv raises $25M Series B to modernize insurance claims with AI and automation

Insurance claims are slow, clunky, and full of friction. Between outdated systems, disconnected teams, and vague data, the process is as frustrating for customers as it is for carriers. That’s the headache InsurTech startup Reserv is going after.

Today, Reserv announced it has raised $25 million in Series B funding, bringing its total to $55 million. Flourish Ventures led the round, with full pro-rata support from existing backers and new investment from Accenture Ventures.

Reserv plans to use the fresh capital infusion to expand its automation models, speed up partner integrations, and roll out new modules outside the core claims process, tapping into the massive dataset its platform collects across TPA operations, the company said in a post on LinkedIn.

Founded in 2022 by CJ Przybyl (CEO) and Martha Dreiling, Reserv is a tech-enabled third-party administrator (TPA) that’s rethinking how property and casualty claims get processed. Instead of layering modern software onto legacy tools, the company rebuilt the process from the ground up, with experienced adjusters and claims managers working alongside purpose-built automation tools that talk to each other.

The company says it’s posted triple-digit revenue growth for two years in a row. It now has over 350 employees across the U.S. and U.K. and serves more than 80 MGAs and 20 carriers across property and casualty insurance, including commercial auto, general liability, professional lines, and medical malpractice.

At the core of Reserv’s pitch is automation that works in the real world. One standout is its automated rollover tech. It takes messy, unstructured data—emails, file notes, financials—from legacy systems and maps everything into the Reserv platform in under two weeks. That same job can take nine months elsewhere.

The startup also built tools that summarize claims and predict severity using AI models that adjusters want to use. It’s these tools, combined with a tight feedback loop between engineers and frontline workers, that have helped Reserv scale quickly.

“Executives hear a lot of noise around AI. ‘The platform should be AI native’ or ‘an AI sidekick is more optimal’, ‘focus on communications’, ‘focus on compliance’,” said CJ Przybyl, CEO and co-founder of Reserv. “You won’t often hear us speaking so absolutely. We scale quickly, assess our weaknesses, and build solutions to solve our problems in a direct partnership with our customers. A great example of this is our rollover technology. No startup would pitch this idea to a VC as a scalable stand-alone business, but it has been an enabler of our scale, and building it strengthened our LLMs and data science while forging strong feedback loops between platform engineers and adjusters.”

Reserv has attracted interest from major players in insurance and enterprise tech. With the new investment, the startup is joining Accenture Ventures’ Project Spotlight, which connects enterprise clients with startups working on high-impact challenges.

“Reserv has demonstrated exceptional progress in a remarkably short period,” said Emmalyn Shaw, co-founder and managing partner at Flourish Ventures. “They’ve successfully built modern infrastructure for an industry traditionally reliant on legacy systems, and their data-driven approach is delivering real value to carriers, MGAs, and ultimately, the policyholders they serve.”

Accenture’s Kenneth Saldanha added, “Insurance claims processing remains at the core of the customer promise and ripe for end-to-end reinvention and disruption. Reserv’s platform empowers insurers to act on more granular claims data for greater efficiency and accuracy, enabling faster claim processing and a better customer experience. The feedback loop to risk selection and more competitive pricing drives greater resilience in the market.”

The startup is betting that insurance doesn’t need another fancy dashboard. It needs a system that works at scale, makes people’s jobs easier, and gets claims resolved faster. So far, that bet seems to be paying off.

Reserv Founders: CJ Przybyl (CEO) and Martha Dreiling (Credit: Reserv)