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IRDAI Eyes 2028 for Public Insurance Registry Beta Launch
16 Oct
Summary
- A beta version of the Public Insurance Registry is slated for January 2028.
- The registry aims to standardize and improve insurance data sharing.
- Feedback submission deadline extended to October 17, 2026.
The Insurance Regulatory and Development Authority of India (IRDAI) is targeting January 2028 for the beta launch of its Public Insurance Registry (PIR). This initiative is designed to create a centralized digital platform for improved insurance data sharing. The Insurance Information Bureau is set to become a not-for-profit company hosting this registry.
The PIR aims to standardize data collection, storage, and exchange, which is currently lacking across approximately 60 insurers. This standardization will facilitate smoother information flow between insurers and financial institutions, supporting various use cases including premium financing and lending decisions.
IRDAI has extended the deadline for stakeholders to provide feedback on the PIR consultation paper to October 17, 2026. The regulator emphasizes that the PIR will complement, not replace, other digital initiatives like Bima Sugam, a customer-facing marketplace. Building comprehensive data standards will be a gradual process, with initial focus on new information.