The Insurance Regulatory and Development Authority of India (IRDAI) convened senior leadership from insurers and other stakeholders to discuss the proposed Public Insurance Registry (PIR) and Bima Sugam, focusing on the initiatives’ vision, design and implementation roadmap as part of plans to strengthen transparency, consumer protection and market efficiency. IRDAI set out the PIR concept as a consent-driven, legally compliant digital public infrastructure spanning the full policy lifecycle, including issuance, claims, grievance redressal and dispute resolution. The registry is intended to operate as a structured, interoperable information layer to consolidate insurance data across participants, reduce information asymmetry, improve fraud detection and support more data-driven regulatory oversight; discussions also covered industry expectations on compliance readiness, data governance standards and cybersecurity safeguards. A dedicated session on Bima Sugam included a presentation by the CEO of the Bima Sugam India Federation, and IRDAI emphasised the need to align PIR and Bima Sugam to enable seamless access to policies, improve service delivery and reshape the customer experience.
Insurance Regulatory and Development Authority of India 2026-03-17
Insurance Regulatory and Development Authority of India convenes industry discussion on proposed Public Insurance Registry and Bima Sugam
The Insurance Regulatory and Development Authority of India convened senior industry leaders to discuss the proposed Public Insurance Registry and Bima Sugam to enhance transparency, consumer protection and market efficiency. IRDAI outlined the Registry as consent-driven, legally compliant digital infrastructure covering the full policy lifecycle to consolidate data, reduce information asymmetry, improve fraud detection and support data-driven supervision, while addressing compliance readiness, data governance and cybersecurity. It stressed aligning the Registry with Bima Sugam to enable seamless policy access, improve service delivery and reshape the customer experience.