Reserv, the New York-headquartered AI-native third-party administrator for the property and casualty insurance industry, is laying out a dramatic expansion plan following its newly announced $125 million Series C funding round. The company intends to grow its annual complex claims handling capacity from roughly 500,000 today to 30 million within the next four years, a roughly 60-fold expansion that would reshape how a significant share of commercial insurance claims are processed in the United States and beyond.
The funding round, announced on May 4, 2026, was led by global investment firm KKR, with participation from existing investors Bain Capital Ventures and Flourish Ventures, alongside select strategic partners and clients. The capital infusion is intended to accelerate Reserv’s operational scaling across the non-field-based commercial P&C claims market.
What the KKR-Led Round Signals for Claims Automation
KKR’s investment in Reserv reflects growing institutional interest in modernizing one of the least digitized corners of the insurance industry. Claims administration has remained anchored to legacy systems, manual workflows, and disconnected data infrastructure for decades, even as carriers face mounting pressure from rising loss costs, staffing shortages, and longer claims cycles.
According to Patrick Devine, Partner at KKR, the firm sees Reserv as differentiated through both operational execution and AI capabilities that produce faster, higher-quality claims outcomes. Elliot Bell, Principal at KKR, added that the management team combines technical innovation with operational scale in ways legacy claims models struggle to replicate.
The investment is being deployed primarily through KKR’s Next Generation Technology Growth strategy, which builds on the firm’s track record in technology investing and its institutional knowledge from investing across the insurance value chain.
Founded in 2022 by CJ Przybyl and Martha Dreiling, Reserv has reached $100 million in annual recurring revenue and currently employs more than 500 claims adjusters. The company has more than doubled its claims processing capacity every year since launch, while serving nearly 200 insurers, corporate captives, managing general agents (MGAs), and brokers.
The expansion target, growing complex claims capacity from 500,000 to 30 million within four years, would create enough operational throughput to service and automate a substantial portion of the P&C industry’s non-field-based commercial claims workload. That projection rests on the continued doubling of claims processing capacity year over year, a trajectory Reserv has maintained since its founding.
The Reserv Glance Platform and the “Post-AI” Operating Model
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At the center of the company’s scaling strategy is the Reserv Glance™ claims platform, which enables clients to migrate historical and open claims into a centralized database. The platform then applies fully explainable AI to analyze and act on priority claims, while scaling both human and automated workflows. Insurers can phase out legacy claims systems within weeks rather than the multi-year timelines typical of traditional core systems replacements.
Clients can configure the level of automation applied to each claim type, ranging from fully automated handling of straightforward claims to more assisted approaches for complex cases. The company describes its environment as “post-AI,” meaning the latest production-ready AI tools are integrated into the platform as they emerge, rather than developed as standalone features.
What “Adjuster-Led” Looks Like at Scale
Co-founder and CEO CJ Przybyl framed the scaling plan as an evolution of how human adjusters and AI systems work together. According to Przybyl, Reserv has reached a scale across claims processing capacity, technology velocity, data accumulation, and people transformation where automating even the most complex claims becomes operationally viable. The model keeps adjusters involved in customer-facing interactions while AI systems handle operational execution behind the scenes.
Claims administration remains one of the least modernized corners of insurance infrastructure. Many insurers still operate across fragmented legacy systems requiring heavy manual review, disconnected workflows, and repeated data entry across adjuster teams, according to analysis published by Beinsure.
Insurers increasingly view claims automation less as a cost-cutting project and more as an operational survival issue. Carriers face rising loss costs, staffing shortages, longer claims cycles, and customer expectations shaped by real-time digital platforms. Rick Taketa, a Reserv board member and former CEO of York Risk Services, said the company’s AI-driven capabilities go beyond automation to improve outcomes for claimants and customers alike.
A New York Story With Global Implications
Reserv operates dual headquarters in New York and London, and its claims teams span North America, the United Kingdom, and the EU. The company has been appointed a Delegated Claims Administrator (DCA) by Lloyd’s of London and was named one of CB Insights’ Top 50 Promising Insurtechs of 2024. The KKR-led Series C brings Reserv’s total funding to roughly $180 million since its 2022 founding.
For the New York business community, Reserv’s expansion plan is another marker of the city’s ongoing role as a hub for insurtech infrastructure that links Wall Street capital to global insurance operations. Whether the company hits its 30 million claims target on schedule will depend on factors including platform performance at scale, regulatory alignment across markets, and the pace at which insurers retire their legacy systems, but the trajectory it has set is one of the most ambitious operational scaling plans in the P&C industry today.
