CRS Co-Owner Michael Jones Discusses Global Expansion and Open-Source Insurance Revolution
Originally featured in Citybiz video interview – watch the full conversation below:
Michael Jones, Co-Owner of Combined Ratio Solutions (CRS), recently sat down with Citybiz to discuss how the company has grown from a bootstrapped startup to a 200-person global operation that’s challenging the $50 billion insurance software industry through radical transparency and open-source innovation.
From Emergency Pivot to Global Success
When venture capital pulled out at the last minute, most startups would fold. Instead, Jones and co-owner Luke Magnan made a decision that would define their company’s DNA: “We had no choice but to be profitable from day one.”
This constraint became their competitive advantage. While PE-backed competitors burned investor cash on licensing revenue models, CRS built something different – a service-first approach that actually solves insurers’ problems rather than creating vendor lock-in.
“We rejected the typical license-revenue valuation model,” Jones explains. “Instead of charging licensing fees like everyone else, we give away our policy administration system (OSPolicy) completely free and make money through hosting, support, and services.”
Global Talent, Rebel Culture
Today, CRS operates across five countries with offices in Hartford (CT), New York City, Montevideo (Uruguay), Tbilisi (Georgia), Buenos Aires, and Belgrade – a strategic approach to accessing diverse engineering talent while maintaining cultural alignment.
“We select geographies based on alignment with company culture and technical needs,” Jones notes. This global footprint isn’t just about cost arbitrage; it’s about finding engineers who share CRS’s rebellious approach to solving insurance technology challenges.
The Anti-Friends Advantage
Unlike many startups, Jones and co-owner Luke Magnan deliberately avoid the “friends-as-founders” model. “We’re not friends… and that gives us a competitive advantage,” Jones reveals.
This unconventional approach creates constructive, business-focused dialogue with clear responsibility divisions – a structure that has enabled CRS to navigate everything from COVID-19 disruption to international political challenges while maintaining consistent growth.
Infrastructure for the AI Revolution
While many InsurTech companies rush to build AI solutions, CRS focuses on something more fundamental: “We don’t build AI solutions directly, but we provide the infrastructure – the plumbing and wiring – for insurers to implement advanced technologies like AI effectively.”
This infrastructure-first approach positions their clients to adopt next-generation technologies without being locked into vendor-controlled roadmaps or paying forever fees for software they should own.