Insurance Regulatory and Development Authority of India convenes industry discussion on Public Insurance Registry and Bima Sugam

The Insurance Regulatory and Development Authority of India held an industry stakeholders’ discussion on the proposed Public Insurance Registry (PIR) and Bima Sugam, focusing on the vision, design and implementation roadmap for the PIR as a digital public insurance infrastructure intended to improve transparency, consumer protection and market efficiency. The PIR was outlined as a consent-driven, legally compliant and interoperable information infrastructure spanning the full policy lifecycle, including issuance, claims, grievance redressal and dispute resolution. It is envisaged to consolidate structured insurance data across stakeholders, reduce information asymmetry, strengthen fraud detection and support data-driven regulatory oversight; discussions also covered sector expectations on compliance readiness, data governance standards and cybersecurity safeguards, alongside an open forum for implementation feedback. A dedicated session on Bima Sugam, including a presentation by the CEO of the Bima Sugam India Federation, set out the platform’s objectives and its role in improving insurance accessibility. IRDAI leadership highlighted the need for industry-wide collaboration and alignment between the PIR and Bima Sugam to enable seamless access to policies and enhance service delivery and customer experience.