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Public Insurance Registry: IRDAI proposal explained

18 March 20261 min read
BANKING & FINANCEPublic InsuranceRegistry: IRDAIproposalexplained18 March 2026safalsetu.com

Why in the news

IRDAI floated a common data registry at a New Delhi stakeholder meeting addressed by Chairman Ajay Seth in March 2026.

Key facts

  • Proposal: Public Insurance Registry (PIR) by IRDAI.
  • Nature: consent-driven, legally compliant, interoperable digital platform.
  • Link: aligned with the proposed marketplace Bima Sugam.
  • Scope: policy issuance, servicing, claims, grievances and disputes.

Objectives

  • Cut information asymmetry with a unified database.
  • Detect fraud and duplicate policies.
  • Enable data-driven regulation.
  • Ease access for policyholders.

Exam angle

  • Proposer: IRDAI (Ajay Seth).
  • Linked marketplace: Bima Sugam.
  • Aim: fraud detection.

Test yourself

1. Which regulator proposed the Public Insurance Registry?

IRDAI proposed the PIR.

2. The Public Insurance Registry is meant to align with which proposed digital insurance marketplace?

The notes say PIR aligns with Bima Sugam.

3. Which feature describes the proposed Public Insurance Registry?

PIR is a consent-driven, legally compliant digital platform.

This topic is part of Daily Current Affairs 18 March 2026 (29 topics).

All topics of the dayDay quizMarch 2026

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