The IRDAI on August, 2026, issued the consultation paper on Public Insurance Registry (PIR) - Digital Public Infrastructure for the insurance sector to improve insurance inclusion, transparency, trust, affordability and efficiency.
The following has been stated:
The PIR is envisaged as an interoperable and non-exclusionary common information infrastructure that will provide a consistent view of insurance records and support better policy servicing, transparency and regulatory oversight.
It is expected to help insurers and intermediaries improve underwriting, risk assessment, claims processing, fraud prevention and operational efficiency, while enabling customers to access better information and manage their insurance more effectively.
The PIR will follow principles including interoperability, federated data architecture, privacy and security by design, scalability, inclusiveness and public-private innovation.
The proposed framework is anchored in the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, along with applicable provisions of the Insurance Act, IRDA Act and other data protection and technology laws.
Overall, the PIR aims to transform the insurance ecosystem through greater transparency, efficiency, financial inclusion, consumer protection and innovation.
IRDAI has also issued a press release in regards to the same.
Please refer to the document attached below for more details.
