IRDAI Proposes Public Insurance Registry

The Insurance Regulatory and Development Authority of India (IRDAI) released a consultation paper on 1 September 2026 for a proposed Public Insurance Registry (PIR). The PIR is planned as an interoperable digital public infrastructure for the insurance sector in India.

Public Insurance Registry: Core Features

The proposed PIR is designed as a population-scale platform for insurance data access and service delivery. IRDAI has described it as an interoperable access layer rather than a centralised database, and the underlying customer data will remain with the original source institutions.

The framework is aligned with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025. The consultation paper sets 30 September 2026 as the deadline for stakeholders and the public to submit feedback.

Stakeholders and Functional Scope

The PIR is planned to integrate eight stakeholder groups, including policyholders, insurers, reinsurers, financial institutions, and government departments. The platform is expected to allow policyholders to compare insurance products, track claims and grievances, view active policies on one dashboard, and identify unclaimed insurance amounts.

For insurers and reinsurers, the registry is intended to provide verified ecosystem-wide data for underwriting, pricing, risk assessment, and fraud detection. The system is also linked to consumer protection, affordability, transparency, and market efficiency in insurance services.

Digital Public Infrastructure in Insurance

Digital public infrastructure refers to interoperable digital systems that support large-scale public or sectoral services. In the insurance context, such a framework can connect multiple institutions while keeping data with the original holders.

Interoperability in insurance systems allows different entities to exchange information through common standards. This model is used in several digital service ecosystems in India, including payments and identity-linked public services.

Important Facts for Exams

• IRDAI stands for the Insurance Regulatory and Development Authority of India.
• The proposed Public Insurance Registry is linked to the insurance sector and not to a single insurer.
• Reinsurers provide insurance cover to insurers and form part of the wider insurance value chain.
• Unclaimed insurance amounts are funds that remain unpaid to eligible policyholders or beneficiaries.