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Reserv licenses its claims AI models to Apeiros Insurance Data Exchange

Apeiros will bill carriers for computing usage plus a 10% markup, with no minimum contracts, while Reserv says certain bordereaux cleaning can cost about $0.25 per file.

Reported · Written up by our desk · Industry & Deals

Reserv, the parent company of Reserv Claims Analysis, is licensing its claims technology stack to Apeiros Insurance Data Exchange, a separate company that will provide carriers access to the same AI models used in Reserv’s 600-person property and casualty claims operation.

Under the arrangement, Apeiros will charge insurers based on computing resources consumed by each task, plus a 10% markup, with no seat licenses, SaaS fees, minimum commitments, or multi-year contracts. The models can support functions including first notice of loss automation, claims triage, subrogation detection, bordereaux cleaning and reconciliation, and data extraction and file quality assurance.

Reserv says cleaning a bordereaux file and producing a correction plan costs approximately $0.25, and that more advanced models for data mapping, complex adjusting, portfolio analytics, and guidelines analysis can be enabled on individual claims. Each carrier will run the models in a separate environment, retain ownership of its data, and prevent data from flowing back to Reserv, while carriers can also use their own data to develop proprietary models.

Reserv is not providing a finished user interface, instead letting carriers and their system integration partners build workflows and interfaces around the models. Coverager reports Reserv’s related usage in its claims operation helps inform pricing and continued model development, and notes Reserv raised an additional $16 million, bringing its Series B total to $41 million with QBE Ventures leading.

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