The report is only as good
as the description.
Reserves Now generates accurate reserve reports in under 20 seconds. The AI can only work with what you give it. This guide shows you exactly what good input looks like, and what happens when it isn't.
The $87,000 mistake.
Made by the person who built this tool.
During beta testing, I received a FNOL that read: "Fire caused by use of fireplace." I'm an insurance attorney with 20 years in P&C claims. I've handled losses over $20 million. I know what fire damage looks like.
Without calling the insured, I made an assumption. An informed, experienced assumption. Direct fire damage to the living room. Smoke damage throughout the rest of the property. That's what fireplace fires typically do. I entered that scope into the tool.
The report came back at $87,000.
The actual damage was smoke only. No fire damage to the structure at all. The fireplace functioned as designed. Smoke had migrated to the kitchen, two bedrooms, and a bathroom. No living room damage. No char. No structural involvement.
The tool didn't fail. I failed the tool. I assumed instead of asked. If I can do it wrong after 20 years, so can anyone.
We ran it again with the accurate first contact description. The report came back at $2,800. The final loss figure came in within $800 of that number. For a reserve report generated in 20 seconds without seeing the loss site, that's impressive accuracy.
An experienced adjuster made a reasonable assumption about a typical fire loss. The assumption was wrong. The tool priced the assumption, not the actual damage.
Final loss figure came in within $1,200 of that number. One phone call to the insured makes the difference. Describe what you know, not what you assume.
Three things every description needs.
A reliable reserve report requires three pieces of information from your first contact with the insured. Without all three, the AI fills in gaps with assumptions. Assumptions produce wrong numbers.
✓ "Wind: shingles lifted at ridge, water entered attic"
✓ "Kitchen grease fire, contained to range hood area"
✓ "Front slope roof approx 400 sq ft, two 2nd floor windows"
✓ "Range hood, adjacent upper cabinet, ceiling tile 2x4 ft"
✓ "Cabinet doors warped, particle board swollen, box intact"
✓ "Insured unsure of subfloor condition, not visible"
What to say when you call the insured.
You don't need a formal inspection to generate a useful reserve report. You need a focused 3-minute conversation at first contact. Here's what to ask:
Which description produces the most accurate report?
Same loss. Three different descriptions written by three different adjusters. Pick the one that will produce the most reliable reserve.
Loss: Wind event. Single family residential, 1,850 sq ft.
The 60-second checklist.
Before you hit Generate Report, run through this. If you can check all five, you'll get a reliable number.