What Combined Ratio Solutions does

Combined Ratio Solutions (CRS) is a privately held insurance technology company founded in 2018 by Michael Jones and Luke Magnan — former executives at Xchanging and Xuber (subsequently absorbed into CSC and DXC) — and headquartered in Hartford, Connecticut. The company provides OSPolicy, an open-source, license-free policy administration system (PAS) targeted at Tier 2 and Tier 3 commercial property and casualty (P&C) insurers, managing general agents (MGAs), and specialty program administrators who are underserved or overcharged by traditional enterprise PAS vendors. OSPolicy covers the full policy lifecycle — account management, submissions, renewals, endorsements, cancellations, and billing — and is built as a microservices platform on Angular and .NET Core, deployed on Microsoft Azure (AKS, CosmosDB, Blob Storage) with AES-256 encryption and role-based access controls. The platform includes a configurable low-code UI, document generation, and an event-driven API layer, with an MCP (Model Context Protocol) integration that allows clients to connect any AI model without vendor approval.

CRS operates on a services-only monetization model: the OSPolicy software is provided free of charge with full source-code ownership transferred to the client, and the company generates revenue exclusively through implementation services (configuration, customization, data migration, integration), managed services (hosting on Azure, DevOps, performance optimization, support), and ongoing operational consulting. Cloud hosting for a mid-sized specialty commercial carrier is priced at $5K–$10K per month, while implementation projects are delivered in months rather than the multi-year timelines typical of incumbent PAS deployments. The company employs 200+ people ("Rebels") across offices in Hartford and Providence, with engineering and development hubs in Tbilisi (Georgia), Montevideo (Uruguay), and Belgrade (Serbia), and additional presence in the UAE and Argentina. GTM is consultative enterprise field sales targeting specialty commercial carriers with multi-year production engagements — the most prominent publicly disclosed clients being Universal Shield Insurance Group (USIG), which launched property and general liability lines in April 2026, and the Fairfax Group of companies. CRS is founder-owned with no evidence of venture capital or private equity backing, and in November 2025 added Clyde Owen (PCMI President) and Curt Stevenson (former Agencyport/Duck Creek CEO) to an Advisory Board to accelerate scaling.

Name

Combined Ratio Solutions

Legal name

Combined Ratio Software

Website

https://combinedratio.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Combined Ratio Solutions provides OSPolicy, an open-source license-free policy administration system for Tier 2/3 P&C insurers, MGAs, and specialty carriers, monetizing exclusively through implementation, managed services, and Azure-based cloud hosting from Hartford with global engineering hubs.

Ownership category

akta.pro rank

Product category

Insurance Policy Administration Software

NAICS

Software Publishers (5132), Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)

akta.pro secondary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Policy administration software
• Open source insurance software
• P&C insurance technology
• MGA platform solutions
• Core insurance systems

Headquarters

HQ city

Hartford

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Implementation Services: Configuration, customization, custom builds, data migration, and integration services to deploy OSPolicy for carrier requirements. This is a primary revenue stream.
2. Managed Services: Ongoing operational support including cloud hosting on Microsoft Azure, DevOps, performance optimization, software updates, testing, deployment, and general consulting. Retained revenue stream for ongoing client relationship.
3. Cloud Infrastructure Services: Hosting on Microsoft Azure including production and lower environments, security management, performance monitoring, backups, disaster recovery, and auto-scaling.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Combined Ratio Solutions provides OSPolicy, an open-source and license-free policy administration system (PAS) for commercial P&C insurance carriers, MGAs, and specialty insurers. The platform covers the full policy lifecycle (account management, submission processing, renewals, endorsements, cancellations, and billing) via configurable UI and APIs, and is monetized entirely through implementation, integration, and managed/hosting services rather than software licensing.

Product overview

Combined Ratio Solutions (CRS) offers OSPolicy as its core open-source, license-free policy administration platform for commercial insurance carriers and MGAs. The platform consists of OSPolicy (core PAS covering policy lifecycle, configurable UI, document management, and microservices/API layer) paired with CRS Rebel Ops professional services (implementation, integration, development, support/hosting). Revenue comes entirely from services—no software licensing fees. OSPolicy integrates with standalone rating engines, billing systems, claims systems, BI tools, reinsurance systems, and AI platforms via MCP. Supporting tools include a TCO calculator and knowledge base with GitHub access.

Differentiator

Problem solved

Functional benefit

Products and services

• CRS OSPolicy Open-source, license-free end-to-end policy administration system for commercial P&C insurance carriers and MGAs, covering account management, submission processing, renewals, endorsements, cancellations, and billing via APIs and configurable UI/UX.
• OSPolicy Producer Portal Branded producer/agent portal component of OSPolicy enabling external agents and producers to quote, bind, and manage policies, built on the OSPolicy core PAS infrastructure.
• CRS Rebel Ops Services End-to-end services including implementation (configuration, customization, data migration), integration with third-party systems, custom development, and ongoing support/hosting/DevOps for OSPolicy deployments.
• CRS Cloud Infrastructure Services Managed cloud hosting on Microsoft Azure covering production and lower environments (dev, QA, UAT), security, performance monitoring, backups, disaster recovery, auto-scaling, and DevOps.

Quantifiable outcome

• Implementation completed in under 12 months with full data migration and system connections
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability7 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Clyde Owen (PCMI)coreOthersClyde Owen, President of PCMI and founding member of Insurity Solutions, serves on CRS's corporate Advisory Board. He played a pivotal role in recruiting Ben Steele (President) and brings expertise in P&C policy and services. PCMI provides enterprise alignment, insurance technology leadership, growth and partnerships guidance.
• Curt Stevenson (Next Insurance)coreOthersCurt Stevenson, former CEO of Agencyport Software (acquired by Duck Creek) and Chief Digital Officer, serves on CRS's Advisory Board. He brings expertise in scaling software platforms, driving go-to-market excellence, and insurance technology mashups. Experience spans Next Insurance, Duck Creek Technologies, Accenture, and Fidelity.
• Microsoft AzurecoreTechnology or IntegrationDefault cloud infrastructure provider for OSPolicy deployments. CRS leverages Azure Kubernetes Service (AKS), Azure App Services, CosmosDB, Blob Storage, and Azure Key Vault. Microsoft Azure cloud platform provides security, scalability, and managed services for production and lower environments.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Insurity: P&C insurance software suite covering policy administration, billing, and analytics, formed through acquisition of multiple insurance software assets. A major competitor for tier-2 carriers and MGAs, and the institutional context for Clyde Owen (founding member) as a CRS advisor.
• Sapiens International: Global insurance software provider with Property & Casualty solutions covering policy administration, billing, and claims. Comparable to CRS as a multi-module PAS platform targeted at mid-to-large P&C carriers across geographies.
• RGI Group: European P&C insurance software vendor with core PAS and MGA platform offerings. Comparable to CRS in the specialty commercial and MGA segments, though RGI's regional focus (primarily EMEA) places it partly in the regional peer category as well.
• Duck Creek Technologies: Cloud-native P&C core systems suite (Policy, Billing, Claims) widely adopted at mid-sized commercial carriers and MGAs. Closest peer on cloud-deployment posture and target buyer profile; advisory board member Curt Stevenson was formerly Chief Digital Officer at Duck Creek.
• Majesco: Cloud-based P&C and L&H core insurance platform with P&C Suite for policy, billing, and claims. Overlaps with CRS in mid-market commercial P&C and the MGA/specialty segment, with comparable pricing-as-a-service positioning.
• Prima Solutions: European-headquartered P&C insurance suite covering policy, claims, and underwriting workbenches with strong MGA/multi-carrier program administration capabilities. Directly comparable to OSPolicy on the MGA and program-administration use cases CRS explicitly targets.
• Guidewire Software: Dominant P&C core insurance platform vendor (PolicyCenter, ClaimCenter, BillingCenter). The principal incumbent that CRS explicitly positions OSPolicy against on cost-of-ownership, configurability, and vendor lock-in dimensions for commercial P&C carriers.
• EIS Group (DXC Technology): Cloud-native insurance core platform (Policy, Billing, Claims) for P&C, life, and specialty lines, now part of DXC. The EIS core systems platform overlaps with OSPolicy on digital PAS architecture and the same mid-to-large carrier segments; founders of CRS previously worked at Xuber inside the same corporate lineage.

Others

• Coherent: Standalone insurance rating engine frequently paired with PAS platforms for commercial P&C lines. Recommended by CRS as the rating partner for OSPolicy because rating is not bundled in the platform, making Coherent an adjacent enabler rather than a head-to-head competitor.

Broad incumbents

• PCMI (Policy Claim Management Inc.): Provider of P&C insurance software and policy/claims services for carriers and program administrators. Comparable to OSPolicy on the policy management surface area; advisory board chair Clyde Owen is President of PCMI, signaling an adjacent rather than head-to-head competitive relationship.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@combinedratiosolutions
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• Facebookfacebook.com/combinedratiosolutions

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Combined Ratio Solutions