Overview
- IRDAI released a consultation paper on Tuesday, September 1, 2026, formally proposing a Public Insurance Registry and inviting stakeholder feedback through September 30, 2026.
- The regulator describes the registry as a digital public infrastructure that will not centralize records but provide a verified access layer while source institutions retain their data.
- IRDAI says the PIR aims to raise insurance access and trust by simplifying onboarding and KYC, reducing fraud and mis-selling, and supporting clearer underwriting and risk pricing.
- Industry reaction reported so far has been broadly receptive, with insurers noting the registry could create multiple usable data sources for underwriting, reinsurers, intermediaries, and consumers.
- The proposal draws on India’s prior digital public infrastructures such as UPI and the Ayushman Bharat Digital Mission and links to the Sabka Bima Sabki Raksha Act as part of wider efforts to boost coverage and market efficiency.