IRDAI proposes Public Insurance Registry for transparent, accessible insurance
Synopsis
IRDAI's proposed Public Insurance Registry could fundamentally reshape how Indians buy, track, and claim insurance — by replacing a fragmented, paper-heavy system with a single interoperable digital layer. Built under the Sabka Bima Sabki Raksha Act, 2025, the registry would let citizens verify insurers, track policies across providers, and locate unclaimed amounts, all without centralising sensitive data.
Key Takeaways
IRDAI released a consultation paper on 1 September proposing a Public Insurance Registry (PIR) .
The PIR is designed as an interoperable access layer — not a centralised database — covering the full insurance lifecycle.
Policyholders would be able to discover, compare, and track insurance across multiple providers through a single-window interface.
The initiative is anchored in the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 .
IRDAI had first proposed the registry in March 2025 ; this consultation paper formalises the framework.
Implementation timeline and data governance details are yet to be finalised pending stakeholder feedback.
The Insurance Regulatory and Development Authority of India (IRDAI) on 1 September released a consultation paper proposing the creation of a Public Insurance Registry (PIR) — a population-scale digital infrastructure designed to bridge information gaps and make insurance services more transparent, accessible, and efficient across India. The proposal marks a significant step toward restructuring how insurers, intermediaries, and policyholders interact within a unified digital framework.
What the Registry Proposes
The PIR is envisioned as an interoperable access layer — not a single centralised data repository — that connects insurers, intermediaries, reinsurers, financial institutions, government agencies, and policyholders through a consent-driven, legally compliant digital framework. Underlying data would remain securely with the original source institutions, while the registry would provide authorised participants with verified and consistent information.
The proposed architecture is intended to cover the entire insurance lifecycle, from policy issuance and servicing to claims, grievance redressal, and dispute resolution.
Background and Legislative Context
IRDAI had first floated the idea of a PIR in March 2025. The current consultation paper formalises and expands on that initial proposal. The initiative sits within the broader framework of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which seeks to create a more integrated and transparent insurance ecosystem in India.
Notably, this comes amid longstanding concerns about India's low insurance penetration and the fragmented, paper-heavy processes that deter both first-time buyers and existing policyholders from engaging effectively with the sector.
Impact on Policyholders
For consumers, the registry could serve as a single-window interface allowing citizens to discover and compare insurance coverage, verify licensed insurers and intermediaries, track policies held across multiple providers, and simplify the claims process. The system is also expected to help policyholders identify forgotten or unclaimed insurance amounts.
By reducing paper-based verification requirements and cutting down onboarding steps, the proposed infrastructure could make insurance services significantly easier to access — particularly for consumers who currently struggle to navigate the fragmented system.
Industry and Market Implications
For insurers and intermediaries, the PIR could enable the development of more tailored products, improve risk pricing accuracy, and strengthen customer service by making reliable policyholder information more readily accessible. The proposed architecture is also intended to reduce systemic friction and promote fair competition across the sector.
Critics and industry observers are likely to scrutinise the data governance framework, particularly around consent mechanisms and cybersecurity safeguards, as the registry would handle sensitive financial and personal information at population scale.
What Comes Next
The consultation paper is open for stakeholder feedback, after which IRDAI is expected to finalise the regulatory and technical framework for the PIR. The timeline for implementation has not yet been specified. How effectively the registry addresses data privacy concerns and integrates with existing digital infrastructure — including the Insurance Information Bureau of India (IIB) — will be closely watched by the industry.
Point of View
But its success hinges entirely on the consent and data governance architecture — details IRDAI has yet to finalise. India's insurance penetration remains stubbornly low, and a unified digital layer could genuinely lower barriers for first-time buyers. However, population-scale financial registries carry real cybersecurity and misuse risks that a consultation paper alone cannot resolve. The more telling signal will be whether the final framework gives policyholders meaningful control over their data or merely digitises existing insurer-side information asymmetries.
NationPress
1 Sept 2026
Frequently Asked Questions
What is the Public Insurance Registry proposed by IRDAI?
The Public Insurance Registry (PIR) is a proposed population-scale digital infrastructure that would connect insurers, intermediaries, reinsurers, financial institutions, government agencies, and policyholders through an interoperable framework. It is designed to cover the entire insurance lifecycle — from policy issuance to claims and dispute resolution — without centralising data in a single repository.
When did IRDAI first propose the Public Insurance Registry?
IRDAI first proposed the PIR in March 2025. The consultation paper released on 1 September 2025 formalises and expands on that initial proposal, inviting stakeholder feedback before the framework is finalised.
How will the PIR benefit policyholders?
Policyholders would gain a single-window interface to discover and compare insurance products, verify licensed insurers and intermediaries, track policies across multiple providers, simplify claims, and identify forgotten or unclaimed insurance amounts. It is also expected to reduce paper-based verification and onboarding steps.
Is the PIR a centralised database of insurance data?
No. According to the consultation paper, the PIR would function as an interoperable access layer rather than a single centralised data repository. Underlying information would remain securely with the original source institutions, while authorised participants would receive verified and consistent information through the registry.
What law underpins the Public Insurance Registry initiative?
The PIR is part of the broader vision under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, which aims to create a more integrated and transparent insurance ecosystem in India.
