GATINEAU, QC, Jan. 15, 2026 /CNW/ – The Competition Bureau published a report today showing Canadians could save a lot of time and money if they could easily and securely transfer their personal data from one service provider to another.
The report–Your Data, Your Control: How data portability can unlock competition and empower consumers — breaks new ground by estimating the value of data portability for consumers, using the insurance sector as a case study.
The Bureau found that a data portability framework in the insurance sector could save Canadians between $1.1 billion and $3.8 billion in annual costs. These savings come from switching to less expensive insurance plans and from reducing the time Canadians spend comparing and switching insurance providers. The potential savings and benefits from enabling data portability across the broader Canadian economy could be much greater.
The Bureau’s report also provides a roadmap for policymakers by identifying key factors for the creation of a Canadian data portability framework. These include:
- Ensuring consumers trust oversight bodies and understand how their personal data is used;
- Providing strong privacy protection, clear consent rules, and high interoperability to allow data sharing between digital platforms; and
- Learning from the efforts of other countries, such as open banking in the United Kingdom and Australia’s Consumer Data Right.
The Bureau’s aim is to promote the benefits of data portability in Canada–beyond early developments in areas such as consumer-driven banking–and to encourage the adoption of policies that give consumers more power over their data in the digital world.
Quotes
“Today’s economy is data-driven. Our report shows that Canadians could save a lot of time and money if they had greater control of their own data. With better data portability, Canadians could take charge of their digital lives, and benefit from more competition in industries like banking, insurance, health care and beyond.”
Jeanne Pratt
Acting Commissioner of Competition
Quick facts
- Data portability empowers consumers, reduces barriers to switching, and helps keep markets competitive by making it easier for people to choose the service provider that best meets their needs. This, in turn, can lead to better services and prices.
- Interoperability is the ability of different digital platforms to interact with each other. Data portability and interoperability work together to increase a person’s ability to move and access their data across different service providers.
- Various jurisdictions are beginning to introduce data portability frameworks, including in the European Union, the United Kingdom, and Australia.
- In Budget 2025, the Government of Canada committed to providing a data-mobility right under the Personal Information Protection and Electronic Documents Act, which is an important step in facilitating data sharing across the economy.
- The Bureau’s findings are based on:
- behavioural economics research, which examines how real people make purchasing decisions;
- a survey of more than 3,000 Canadians, and;
- comparisons of data portability approaches used in other countries.
Related products
Associated links
- Budget 2025: Canada’s Consumer-Driven Banking Framework
- Budget 2025: the government’s commitment to provide a data-mobility right under the Personal Information Protection and Electronic Documents Act
- Competition Bureau provides recommendations to strengthen competition in Canada’s financial sector (2024)
- Report to the Minister of Finance Regarding the Proposed Acquisition of HSBC Bank Canada by Royal Bank of Canada (2023)
- Comments to the Advisory Committee on Open Banking (2021)
- Submission to OECD: Digital Disruptions in Financial Markets (2019)
- Submission to Finance Canada: Open banking (2019)
- Market Study Final Report: Technology-led Innovation in the Financial Services Sector (2017)
- Submission to OECD: Financial technology (2017)
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau
