Michael Jones is CEO of Combined Ratio Solutions (CRS), a growing InsurTech company based in Hartford, Connecticut that specializes in modernizing how property and casualty (P&C) insurers manage their technology infrastructure. He has over 20 years of insurance industry expertise across retail agency production, complex risk finance, and international technology deployment. He began his career selling property and casualty insurance and quickly developed a keen understanding of the challenges insurers face. His experience led to a focus on risk management, where he structured non-traditional financing solutions for high-risk portfolios.

In 2018, he launched CRS with co-owner Luke Magnan to confront a major industry issue: outdated, overpriced policy administration platforms. CRS provides a license-free, open-source alternative that removes vendor lock-in and returns control to carriers and MGAs. Under Michael’s leadership, CRS has grown to a team of 200 employees. The company is headquartered in Hartford, Connecticut, with operations in countries around the globe including Uruguay, Argentina, Serbia, and Georgia.

Michael is known for his ability to lead go-to-market strategies that successfully launch innovative platforms in North America. He has helped global software firms rebrand and expand into new markets by bridging business priorities with technical vision. His strength lies in connecting cross-cultural stakeholders, building trust across teams, and aligning solutions with real-world insurance operations. He communicates with clarity, cutting through complexity to deliver measurable results.

We had no choice but to be profitable from day one

His career reflects a commitment to empowering the insurance industry through transparent, scalable, and cost-effective technology. He believes in challenging inefficiency head-on and equipping insurers with the tools they need to evolve.

Connect with Michael on LinkedIn

Interview Summary

Company Overview and Global Footprint

• (00:27) Combined Ratio Solutions is headquartered in Hartford, CT, with offices in New York City, Montevideo (Uruguay), Tbilisi (Georgia), Buenos Aires, and Belgrade.
• The company employs over 200 people globally, specializing in property & casualty (P&C) insurance technology.

Market Focus and Client Strategy

• (01:29) The firm targets tier-2 and tier-3 insurers, offering tech solutions to smaller carriers that lack the scale or resources of larger insurers.
• While it works with some tier-1 players, its niche strength lies in supporting mid-sized carriers with customized tech services.

Bootstrapped Origins and Business Model

• (02:14–03:27) After a last-minute pullback of venture capital, Jones and his partner chose to self-fund, launching with service contracts instead of a product.

• (03:50–05:03) They reinvested early profits to build a proprietary policy administration system (PAS) and released it as open-source (OSPolicy).
• Revenue is driven through hosting, support, and service work, not licensing—a departure from conventional PE-backed models.

Philosophy: Rebels in a Conventional Industry

• (05:26–06:03) The company rejects the typical license-revenue valuation model. Instead, it focuses on long-term value through service and IP ownership, calling themselves “rebels” in the insurance tech space.

Global Talent Strategy

• (06:34–07:36) CRS draws on international talent, benefiting from diverse engineering education models and discipline.
• The company selects geographies based on alignment with company culture and technical needs.

Co-Leadership Structure

• (08:08–09:11) Co-ownership is shared with Luke Banglin. They intentionally avoid a “friends-as-founders” model to foster constructive, business-focused dialogue.

We’re not friends… and that gives us a competitive advantage

• Responsibilities are clearly divided to maximize operational efficiency and accountability.

Milestones of Resilience

• (09:44–11:23) Key milestones include:
  • Immediate profitability from day one.
  • Surviving and growing through COVID-19.
  • Navigating political challenges in international markets.
  • Establishing a strong, cross-cultural internal culture.

Technology Outlook and AI Readiness

• (11:59–12:26) CRS doesn’t build AI solutions directly but provides the infrastructure (“plumbing and wiring”) for insurers to implement advanced technologies like AI effectively.

Personal Reflections and Risk Culture

• (12:50–13:50) Michael attributes much of their success to personal support systems, particularly family willingness to embrace risk.
• Shared trust and calculated risk-taking are at the heart of CRS’s unconventional but effective growth path.

Combined Ratio Solutions is an InsurTech firm founded in 2018 and headquartered in Hartford, CT, with additional offices in Tbilisi (Georgia), Montevideo (Uruguay), and Belgrade (Serbia). CRS offers an open‑source Policy Administration System called CRS OSPolicy, which is license‑free forever—eliminating traditional perpetual licensing fees and enabling insurers to fully own, modify, and deploy the software on their preferred infrastructure.

Edwin Warfield, CEO of citybiz.co, conducts CEO Interviews.

If you’re interested in a citybiz CEO Interview, please contact
Edwin Warfield – edwin.warfield@citybizlist.com

The post Interview with Michael Jones, Co-CEO of Combined Ratio Solutions appeared first on citybiz.

This contant was orignally distributed by citybiz. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Interview with Michael Jones, Co-CEO of Combined Ratio Solutions.