A study that is currently underway is expected to unearth valuable information about consumer insurance usage, a bank official said.

“We expect to achieve a better understanding of how moderate-income consumers use insurance and whether, for example, insurance is another way to access the mainstream financial system,” noted Robin Newberger, business economist for the Federal Reserve Bank of Chicago, which is conducting the study.

In addition, the data may show insurers how to tap this new information for better marketing and underwriting, he explained.

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