Reserv Secures $125 Million From KKR to Transform Insurance Claims With AI
Reserv Inc., the property and casualty insurance industry’s largest AI-native third-party administrator, has announced a $125 million Series C funding round led by KKR, with participation from existing investors including Bain Capital Ventures and Flourish Ventures, as well as select strategic partners and clients. The Reserv KKR AI insurance claims deal is one of the most significant bets placed on AI-native insurance infrastructure this year.
Founded in 2022, Reserv provides third-party administrator services and technology to nearly 200 insurers, corporate captives, MGAs, and brokers. The company has reached $100 million in annual recurring revenue and has more than doubled its claims processing capacity every year, with over 500 claims adjusters currently on staff. That growth trajectory is exactly what attracted KKR, which is making the investment primarily through its Next Generation Technology Growth strategy.
From 500,000 Claims Today to 30 Million by 2030
The ambition behind the Reserv KKR AI insurance claims partnership is extraordinary in scale. The investment expected to help Reserv scale its claims processing capacity from 500,000 complex annual claims today to 30 million within four years, enough to service and automate a significant portion of the entire US property and casualty industry’s non-field-based commercial claims.
Reserv’s Glance™ platform enables customers to migrate historical and open claims into a centralised database, then uses fully explainable AI to analyse and act on critical claims while scaling human and automated workflows rapidly. Clients can choose how much automation to apply, from fully automated handling of simpler claims to more supported approaches for complex cases.
Co-founder and CEO CJ Przybyl said the company has now reached a scale where it can automate even the most complex claims, delivering an adjuster-led experience supported by AI. KKR partner Patrick Devine described Reserv’s AI and operational capabilities as genuinely differentiated in the market.
