1 day ago
IRDAI Proposes Public Insurance Registry for Insurance Sector
India’s insurance regulator wants to build a shared digital system called the Public Insurance Registry.
It would help organize trusted insurance information from different organizations.
The information would stay with the organizations that originally hold it.
Authorized users could still access a consistent and verified view of the records.
People could compare insurance products and see policies they have with different companies.
The system could also make claims and other services easier and help find unclaimed money.
Insurers and regulators could use the information to improve products, pricing and oversight.
The plan is still being discussed, and IRDAI is asking for comments by September 30, 2026.
IRDAI has proposed a Public Insurance Registry as digital public infrastructure for India’s insurance sector.
The population-scale, interoperable and non-exclusionary registry aims to improve transparency, inclusion, affordability and financial sustainability.
The proposed design would let data remain with source institutions while providing authorized users with verified, consistent insurance records.
Consumers could compare products, view policies and claims across insurers, simplify servicing and identify unclaimed amounts.
IRDAI is seeking feedback on data standards, privacy, consent, governance and implementation until September 30, 2026.
- Who
- The Insurance Regulatory and Development Authority of India (IRDAI) proposed the Public Insurance Registry.
- What
- A consultation paper proposes a population-scale digital public infrastructure for India’s insurance sector.
- Where
- India’s insurance ecosystem; the proposal was reported from Mumbai.
- When
- The proposal was announced on September 1, 2026; comments are invited until September 30, 2026.
- Why
- To address information and interoperability gaps, strengthen consumer protection and market efficiency, expand coverage, and promote affordability and financial sustainability.
Key facts
- Proposed initiative
- Public Insurance Registry (PIR)
- Regulator
- Insurance Regulatory and Development Authority of India (IRDAI)
- Proposed structure
- An interoperable access layer, with underlying data remaining securely with original source institutions
- Potential consumer uses
- Product comparison, consolidated policy and claims views, reduced documentation, easier servicing and identification of unclaimed amounts
- Potential industry uses
- Improved underwriting, pricing, product design, claims, customer service, risk management and identification of protection gaps
- Consultation topics
- Objectives, use cases, data architecture, identity framework, data standards, privacy, consent, confidentiality, governance and implementation
- Feedback deadline
- September 30, 2026
Quotes
Insurance Regulatory and Development Authority of India (IRDAI)
India’s insurance regulator
“Envisaged not merely as a data repository, but as an innovation platform and a strategic investment in national economic infrastructure, the PIR will strengthen consumer protection, market efficiency, insurance coverage and supporting the next generation of insurance reforms.”
CNBC TV 18
deccanchronicle.com
“PIR will adopt a DPI-based approach using technology, governance and market to support the societal goal of wider and deeper financial resilience. Regulatory guardrails will guide market-based risk pooling and leveraging competitive private innovation in public interest.”
thehindubusinessline.com
Mayank Bathwal
Chief executive officer of Aditya Birla Health Insurance.
“This was in the pipeline for sometime. The idea is to create our own different data sources for the insurance industry to enable multiple use cases for the industry, for consumers, for reinsurers, and other stakeholders. The sources of data will be multiple and used for insurance penetration, underwriting, risk management and many other use cases.”
deccanchronicle.com
Sources
Irdai proposes Public Insurance Registry to boost transparency, data sharing
IRDAI proposes Public Insurance Registry to create digital public infrastructure for insurance
IRDAI Proposes Public Insurance Registry (PIR) for Affordability, Financial Sustainability
IRDAI Proposes Public Insurance Registry
IRDAI proposes public insurance registry to boost transparency, reshape insurance service
Related news
IRDAI insurance reforms boost transparency, accountability for policyholders
Parliamentary Panel Calls for Annual Insurance Penetration Targets in India
Rajasthan, IRDAI discuss roadmap for 'Insurance for All by 2047'
India’s ‘No Insurance, No Fuel’ Plan Signals New Digital Push
India Regulator Allows Insurers to Invest in NDB Rupee Bonds
Pregnancy Illness Claims May Face Insurance Disputes
How India’s Comprehensive Car Insurance Premium Is Determined
Why SIPs Alone Cannot Guarantee Financial Security
SBI Life Urges Balanced Financial Planning Before Age 45
