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

Combined Ratio Solutions (CRS), a Hartford-based InsurTech firm, is transforming the property and casualty (P&C) insurance industry with its innovative, open-source policy administration platform, CRS OSPolicy. Founded in 2018 by industry veterans Michael Jones and Luke Magnan, CRS addresses the sector's reliance on outdated, costly systems by offering a solution that insurers can own, modify, and deploy on their preferred infrastructure, effectively eliminating vendor lock-in.

Michael Jones, leveraging over two decades of insurance experience, has steered CRS towards prioritizing long-term value and intellectual property ownership over traditional licensing models. This approach has distinguished CRS in a conservative industry, particularly among tier-2 and tier-3 insurers, by equipping them with the technological capabilities to rival larger competitors. CRS's global presence, with offices in Uruguay, Argentina, Serbia, and Georgia, enables it to harness diverse talent for continuous innovation.

CRS's journey from a bootstrapped startup to a profitable entity, even amidst challenges like the COVID-19 pandemic and geopolitical uncertainties, underscores its resilient business model and effective cross-cultural operations. Although CRS does not directly develop AI technologies, its platform lays the groundwork for insurers to adopt advanced digital solutions, positioning CRS as a pivotal player in the insurance sector's digital transformation.

The emergence of CRS and its open-source platform, CRS OSPolicy, exemplifies the potential of challenging conventional industry practices and democratizing technology access in insurance. For further details, visit https://www.combinedratiosolutions.com.