India’s insurance regulator has proposed a new digital system that could bring information on a customer’s different insurance policies together in one place, potentially making the sector more transparent, connected and easier to navigate.
The Insurance Regulatory and Development Authority of India (IRDAI) has proposed the creation of a Public Insurance Registry (PIR), a digital infrastructure designed to address the fragmented nature of insurance information. If implemented, the proposed registry could allow customers to access details of life, health, motor and other insurance policies through a common system, even when those policies are held with different insurers or obtained through intermediaries.
The initiative is being planned as a Digital Public Infrastructure (DPI) for the insurance sector. Its broader concept draws on the experience of major digital systems already used in India, including UPI, DigiLocker, Aadhaar-based services and Co-WIN. The proposed framework is intended to make insurance-related information easier to manage while improving coordination between customers, insurers and other stakeholders.
One place for multiple policies
At present, an individual may hold a life insurance policy with one company, health insurance with another and motor insurance through a different insurer or intermediary. Information about these policies is therefore often spread across several platforms and documents.
This can make it difficult for customers to maintain a clear picture of their overall insurance position. They may need to check separate accounts or documents to determine which policies are active, when premiums are due, who has been named as a nominee and how much insurance protection they currently hold.
Under the proposed PIR framework, customers could obtain a consolidated view of their insurance portfolio, subject to their consent. Such a system could make it easier to keep track of several policies and manage important policy-related information without having to search across multiple sources.
Potential help for families after a policyholder’s death
One of the more significant proposed uses of the registry is the identification of insurance policies that family members may not know about.
When an insured person dies, relatives may not always have complete information about all the policies held in that person’s name. A policy document or policy number may be unavailable, leaving potentially valid claims unmade.
Under the proposed system, once a death claim is processed, information about the policyholder’s death could be entered into the registry with the claimant’s consent. Other insurance policies associated with the deceased person could then potentially be identified, allowing the relevant insurers to be alerted about possible claims.
The system could also assist families in locating unclaimed insurance money when they do not have a policy number but possess other identifying information about the policyholder. This could make it easier to identify financial benefits that might otherwise remain unnoticed.
Repeated KYC requirements could be reduced
Another potential benefit is the reduction of repeated Know Your Customer (KYC) procedures.
Customers buying multiple insurance products often have to provide similar identity and verification information to different insurers. Under the proposed PIR framework, verified KYC information could potentially be reused with the customer’s consent.
This could make the process of purchasing additional policies less repetitive. Customers might also be able to update details such as their telephone number, email address, residential address, bank account or nominee information through a more coordinated system.
However, the rules governing such changes would need to be clearly defined. In particular, customers would need to know which policies and insurers would be affected by an update and what level of consent would be required.
Comparing insurance products could become easier
The proposed registry could also improve the way customers compare insurance products.
Insurance policies can contain complex terms and conditions, making it difficult for consumers to assess products offered by different companies. Under the proposed approach, common indicators such as coverage, premiums, benefits, exclusions and waiting periods could help customers compare policies more clearly.
The proposal also includes presenting information in a customer’s preferred language. This could help make insurance-related information more accessible, particularly when customers are dealing with detailed policy conditions and exclusions.
A clearer comparison system could allow consumers to assess products according to their individual requirements rather than relying solely on information provided through separate insurers or intermediaries.
A more integrated complaints system
The proposed PIR could also bring greater coordination to insurance-related complaints.
Customers may be able to submit complaints through digital channels such as mobile devices, applications or websites, while receiving services in their preferred language. A more integrated system could make it easier for customers to manage complaints and follow the progress of their cases.
Another proposed feature is ‘Know Your Agent’, which could provide customers with information about insurance agents or intermediaries. The proposed facility could include details relating to an agent’s work record, customer complaints and service quality.
Such information could give consumers greater visibility when dealing with agents and intermediaries, although the exact scope and operation of the feature would depend on the final framework.
Registry has not yet been launched
The Public Insurance Registry is still at the proposal stage and has not yet been launched.
IRDAI has issued a consultation paper seeking views from relevant stakeholders on the proposed framework. Comments are being invited until 30 September 2026, after which the proposal is expected to be reviewed in light of the feedback received.
Several issues will be important in determining how the system ultimately takes shape. These include data security, consumer privacy, market efficiency, consumer protection and the long-term financial sustainability of the proposed infrastructure.
Integrating existing insurance records could also prove challenging. Insurance information is currently held across different companies and systems, and older records may need to be brought into a common structure. At the same time, the proposed registry would have to handle large volumes of sensitive financial and personal information, making strong safeguards essential.
If implemented effectively, the PIR could represent a significant change in how insurance information is managed in India. A unified view of policies, easier identification of unclaimed insurance benefits, reduced duplication in KYC procedures and improved access to policy and claims information could make the insurance system more convenient for consumers.
The success of the initiative, however, will depend not only on creating a common digital platform but also on ensuring that customers retain control over their information, understand how their data is used and have confidence in the security of the system.