Reserv, Inc., the leader in AI-driven insurance claims processing, is thrilled to announce a series of significant achievements that mark a milestone year for the company. Highlighting its rapid growth and industry impact, Reserv has won several prestigious awards and has been approved as a Delegated Claims Administrator (DCA) by Lloyd's of London. This approval enables Reserv to serve some of the world's largest property and casualty insurers.
NEW YORK, Dec. 3, 2024 /PRNewswire-PRWeb/ -- Lloyds of London Delegated Claims Administrator
"We're incredibly excited to be approved as a Lloyd's DCA," said Martha Dreiling, co-founder and COO of Reserv. "The Lloyd's market provides capacity to major P&C carriers in the US and we're proud to be able to provide unparalleled actuarial and operational data transparency to our Lloyds' clients." Additionally, Reserv's multi-national business model means that it is able to help Managing General Agents (MGAs) in the US and UK markets.
"Lloyds' provides capacity to both established MGAs with large mature books as well as startup MGAs looking to underwrite insurance to underserved lines of business," Martha said, "between our publicly listed company clients doing thousands of claims a month to our small MGA clients with under a hundred monthly claims, Reserv has demonstrated that we can serve all of them as a Lloyd's DCA, no matter their size or maturity."
Major Industry Recognitions
Over the course of 2024, the insurance industry began to take note of Reserv's disruptive approach to claims management, garnering major recognition:
- Top 50 most promising insurtech startups of 2024 by CB Insights – identifying the most promising insurtechs using AI
- Best Newcomer Award by the British Insurance Awards – Honoring outstanding achievements and innovation in the insurance sector
- Best Claims Collaboration by Insurance Post Claims and Fraud Awards – Recognizing excellence in collaborative efforts to enhance claims processes through partnerships with other fast-growing disruptors, including with fintech partner Vitesse PSP
Appointment of Denis Connolly to VP of Business Development
To expand customer reach, Reserv is excited to announce the appointment of Denis Connolly as VP of Business Development to drive the global sales efforts. Denis brings over a decade of experience in the insurance and tech-driven claims space. His expertise in claims technology and virtual solutions will be key in expanding Reserv's offerings and deepening relationships with carriers, MGAs, and vendor partners.
Building on strong momentum
"Reserv will end 2024 with 275 employees across the US and the UK serving over 45 clients across 15 different lines of business. Achieving such significant market traction in only two and a half years - and without any sales or business development resources - underscores the market need," said CJ Przybyl, co-founder and CEO of Reserv. "We have redefined data availability and performance expectations in the industry. Now, with the Lloyd's DCA market expansion opportunities and Denis joining the team, we are poised to accelerate our growth trajectory into 2025 and beyond."
About Reserv
Reserv is a digital-native Third-Party Administrator (TPA) that leverages advanced AI technology to revolutionize the insurance claims process. By enhancing the accuracy and efficiency of claims handling, Reserv is setting new standards for speed and data-driven decision-making in the insurance industry. For more information, please visit Reserv's website.
Media Contact
Marketing, Reserv, 1 (716) 393-2725, [email protected], www.reserv.com
SOURCE Reserv
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