Combined Ratio Solutions Challenges InsurTech Norms with Open-Source Policy Administration System

CRS Introduces Open-Source Tech in P&C Insurance

Combined Ratio Solutions (CRS), spearheaded by Michael Jones, is making strides in the Property and Casualty (P&C) insurance sector with the introduction of an open-source policy administration system. This initiative aims to streamline operations and provide more flexibility for insurers worldwide.

What’s the Big Deal?

The open-source framework is designed to challenge traditional approaches in InsurTech, which often rely on proprietary solutions. With this new system, CRS hopes to empower insurance companies by reducing the reliance on costly, closed systems that can limit innovation.

Key Features of the Open-Source System

• Flexibility: Insurers can customize the software to meet their unique needs.
• Cost-Efficiency: The open-source model reduces overall licensing fees typically associated with proprietary software.
• Collaboration: Encourages a community-driven development approach, fostering innovation and quicker updates.

Who Will Be Impacted?

This initiative is likely to benefit a wide array of players in the industry, from startups to established insurers. Smaller companies, in particular, could take advantage of lower entry costs and customizable features that level the playing field against larger firms. Additionally, larger companies may find a new avenue for innovation without heavy investment in proprietary technology.

Looking Ahead

In summary, CRS’s efforts to implement open-source technology in P&C insurance signal a potential shift in how companies approach policy administration. While the impact remains to be seen, it's clear that innovation in InsurTech is gaining momentum.

Original Source: https://www.citybuzz.co/2025/07/28/combined-ratio-solutions-challenges-insurtech-norms-with-open-source-policy-administration-system/