India’s Insurance Regulator Proposes Digital Platform for Policy Records
IRDAI has proposed the Public Insurance Registry, a digital public infrastructure to give policyholders, insurers and regulators a unified view of insurance records.
IRDAI releases a consultation paper on the Public Insurance Registry — a proposed DPI connecting policyholders, insurers, reinsurers and regulators.
Public Insurance Registry: India’s insurance regulator has proposed a centralized digital platform to consolidate policy records across the insurance market.
The Insurance Regulatory and Development Authority of India (IRDAI) released a consultation paper Tuesday for the Public Insurance Registry (PIR). The registry would create a unified view of policies across insurers while allowing individual companies to retain customer data.
The platform would serve eight categories of users: consumers, insurers, reinsurers, intermediaries, regulators, lenders, government agencies, and researchers. Consumers could compare products, identify unclaimed payouts, and verify insurers. Banks could verify insurance coverage on borrowers. Regulators could monitor coverage gaps by region and demographic.
“PIR is envisaged not merely as a data repository, but as an innovation platform and a strategic investment in national economic infrastructure,” the IRDAI said in the consultation paper.
The registry would standardize data on claims and exposures across insurers. The IRDAI says the PIR draws on lessons from digital infrastructure in other sectors of the Indian economy.
Public Insurance Registry: Consultation process
The consultation runs until September 30, 2026. The IRDAI is seeking feedback on data architecture, identity frameworks, privacy safeguards, governance, implementation readiness, and transition arrangements. The regulator is also requesting input on commercial confidentiality protections and how to handle legacy policies.
The PIR would enable easier product discovery and comparison, consolidated views of policies across insurers, reduced documentation, improved servicing, and identification of unclaimed amounts. The consultation paper notes these use cases are “presently at a conceptual stage and will be further developed into detailed functional and technical specifications.”
The IRDAI’s consultation paper can be accessed at https://iib.gov.in/pir. Comments are due by September 30.
