FSRA Technical Advisory Committee for Auto Insurance Data & Analytics

Summary of the Meeting of May 12, 2021
Via Teams

Technical Advisory Committee Members Present:


Name

Organization

Achraf Louitri

Intact

Aiden Chen

Facility Association

Baiju Devani

Aviva

Charles Dugas

Ernst & Young

Christopher Cooney

TD Insurance

Deana Djurdjevic

Ontario Securities Commission

Deborah Upton

Gore Mutual

François Godbout

Co-operators

Michael Lin

Travelers

Santiago Villasis

CGI

Steve Gugler

3Tree Inc.

Danish Yusuf

Zensurance

Kai Huang

Economical Insurance

FSRA Members Present:

Tim Bzowey, Ivy Ou, Bruce Green, Stuart Wilkinson and others from FSRA’s Auto/ Insurance Products and Auto/ P&C Policy teams were present at the meeting. Marlena Labieniec from FSRA’s Innovation Office was also present.

General Comments

This was the third Auto Insurance Data & Analytics Technical Advisory Committee meeting held by FSRA. The objective of the meeting was to obtain a better understanding of the top barriers to innovation in the Canadian insurance market, and how FSRA can help mitigate the identified barriers. FSRA also introduced its Innovation Framework and Test and Learn Environment.

The committee members participated in breakout sessions to provide feedback on high level key performance indicators that FSRA could use to evaluate auto insurance innovation programs in its Test & Learn Environment. Group discussions focused on potential standard metrics that FSRA could apply to evaluate different innovation programs (e.g. types of consumers enrolled in the program and financial related metrics; metrics that are helpful in determining a successful outcome for consumers; metrics related to consumer harm or complaints). The committee members also discussed potential barriers that could prevent the collection and/ or disclosure of relevant data by participating entities to FSRA, and steps that FSRA could take to mitigate those barriers.