FSRA2022-039 - Credit Bureau Information

Project Scope
FSRA’s Auto/Insurance Products business areas are in need of various types of credit and bankruptcy information available from credit bureaus:
Auto/Insurance Products (“AIP”) is seeking aggregated consumer credit information identifiable on a geographic basis broken down to specific location by postal code to better understand consumer behaviour in relation to the auto insurance market.
Access to consumer credit data aggregated at postal code allows FSRA to better understand consumer segments by combining it with other demographic data, and analyzing the relationship between auto insurance loss costs, premiums, and consumer risk factors. AIP would potentially provide a third-party this data to conduct analysis, study, produce reports and publish academic research. These internal and external analyses can help FSRA perform better as a regulator by assessing rating and underwriting fairness to consumers, as well as provide insights on the effectiveness of the current auto insurance regulatory model.