CRS Revolutionizes P&C Insurance with Open-Source Policy Administration Platform

Combined Ratio Solutions (CRS), a Hartford-based InsurTech company, is transforming the property and casualty (P&C) insurance sector with its innovative, open-source policy administration platform, CRS OSPolicy. This groundbreaking solution allows insurers to bypass the traditional, costly policy administration systems by offering a license-free alternative that can be customized and deployed on the insurer's preferred infrastructure, effectively eliminating vendor lock-in.

Founded in 2018 by Michael Jones and Luke Magnan, CRS has quickly distinguished itself by focusing on long-term value and intellectual property ownership for its clients, rather than relying on licensing fees. This approach has particularly benefited tier-2 and tier-3 insurers, providing them with the technological capabilities to compete against larger carriers. With a global presence that includes offices in Uruguay, Argentina, Serbia, and Georgia, CRS leverages a diverse talent pool to foster innovation and resilience, even in the face of challenges like the COVID-19 pandemic and political instability in some of its operational markets.

CRS's business model, which emphasizes profitability from the outset and a bootstrapped approach to growth, underscores its unconventional yet successful strategy in a traditionally conservative industry. While CRS does not directly develop AI solutions, its platform serves as a critical infrastructure that enables insurers to implement advanced technologies, positioning CRS as a pivotal player in the digital transformation of the insurance sector.

The story of CRS and its co-founder Michael Jones highlights the potential of open-source solutions to democratize access to technology in the insurance industry, challenging long-standing norms and offering a more equitable and flexible approach to policy administration. For more information on CRS and its innovative offerings, visit https://www.combinedratiosolutions.com.