IRDAI to Launch Public Insurance Registry Beta by 2028

The Insurance Regulatory and Development Authority of India (IRDAI) plans to launch a beta version of the Public Insurance Registry (PIR) in January 2028. IRDAI Chairman Ajay Seth announced that the Insurance Information Bureau will be transformed into a not-for-profit company to host the registry.

The PIR aims to establish common standards for collecting, storing, and exchanging data across approximately 60 insurers that currently use disparate formats. This infrastructure will support business-to-business functions, including premium financing and lending decisions. Seth noted that the registry is not a replacement for the customer-facing Bima Sugam marketplace, but rather a system that complements it.

To refine the system before implementation, the IRDAI extended the deadline for stakeholder feedback on the PIR consultation paper to October 17, 2026.