The Insurance Regulatory and Development Authority of India (IRDAI) has proposed a Public Insurance Registry (PIR), a digital public infrastructure aimed at addressing information gaps across the insurance sector and improving access to policy, claims and grievance-related information.
The regulator released a consultation paper on September 1, seeking stakeholder views on the proposed framework. The consultation is aimed at creating a more connected insurance ecosystem while improving transparency, interoperability, consumer protection and efficiency across the policy lifecycle.
PIR to connect insurance information
The proposed PIR is not envisaged as a central database holding all insurance records. Instead, it would operate as an interoperable access layer, allowing authorised users to access verified information while the underlying data remains with the institutions that originally hold it.
The framework is expected to cover the insurance journey from policy issuance and renewals to servicing, claims, grievances and dispute resolution. IRDAI has said the infrastructure could reduce information gaps and create more seamless, transparent and data-driven insurance transactions.
For policyholders, one significant potential use could be locating insurance policies that have been lost, forgotten or purchased through different channels. A single-window discovery mechanism could allow customers to obtain a clearer view of their insurance relationships across participating institutions.
The proposed system could also help consumers compare insurance products and verify information relating to insurers and intermediaries. This could reduce dependence on fragmented records and provide policyholders with greater visibility when assessing coverage, servicing requirements or purchasing decisions.
Claims, grievances may see greater visibility
The PIR could become particularly relevant when policyholders face difficulties during claims or grievance resolution. Access to verified policy and claims information across institutions could potentially reduce information gaps that currently contribute to delays or repeated documentation.
The proposal comes as policyholder grievances, including complaints relating to claims, delays and mis-selling, remain an important area of regulatory oversight. IRDAI’s existing Bima Bharosa system provides a channel for registering and tracking complaints involving insurers and policy-related matters.
For customers alleging mis-selling, the proposed registry could provide greater visibility into intermediaries and their conduct. The framework envisages information that could support assessment of intermediary performance, complaints, disciplinary action and other relevant indicators, subject to the final safeguards.
Wider use across insurance ecosystem
The proposed infrastructure is not limited to consumer services. Financial institutions could use verified information to establish policy ownership and collateral cover, while insurers could use standardised information to improve underwriting, pricing, claims management and customer service.
IRDAI also sees potential for regulators to identify protection gaps and emerging risks through aggregated information. Approved anonymised datasets could support research, while insurers and reinsurers could use standardised exposure and loss information for risk assessment and capital planning.
The regulator said the proposed PIR could lower information barriers and encourage competition based on product innovation, pricing, service quality and customer experience. The broader objective is to support insurance growth, inclusion, affordability and financial sustainability.
However, the PIR remains at the consultation stage, and its final structure has not yet been decided. IRDAI is seeking views on data architecture, identity frameworks, data standards, privacy, consent safeguards, commercial confidentiality, governance and implementation.
The regulator has invited comments from stakeholders and the public on the consultation paper, including its proposed user cases and consultation questions. The deadline for submitting feedback has been fixed at September 30, 2026, after which the framework could be further developed.
If implemented, the PIR could address some of the information problems policyholders encounter while tracking old policies, resolving claims or challenging mis-selling. Its effectiveness, however, will depend on strong consent mechanisms, data security, interoperability and clear accountability among participating institutions.
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