प्रेस प्रकाशनी / Press Release

भारतीय बीमा विवियामक और विकास प्राविकरण Insurance Regulatory and Development Authority of India प्रेस प्रकाशिी - 17 मार्च 2026 Press Release - 17th March 2026 िई विल्ली New Delhi / 'सािचजविक बीमा रवजस्ट्री' और 'बीमा सुगम' विषय पर उद्योग वितिारको ोंकी र्र्ाच Industry Stakeholders’ Discussion on ‘Public Insurance Registry’ and ‘Bima Sugam’ The IRDAI convened an Industry Stakeholders’ Discussion on the proposed Public Insurance Registry (PIR) and Bima Sugam on March 17, 2026, at the India International Centre, New Delhi.

The meeting brought together senior leadership from insurance companies and other invited stakeholders from the insurance ecosystem to deliberate on the vision, design, and implementation roadmap of Public Insurance Registry, the digital public insurance infrastructure, aimed at enhancing transparency, consumer protection, and market efficiency in the sector.

The PIR is envisioned as a consent-driven, legally compliant digital infrastructure covering the entire policy lifecycle from issuance to claims, grievance redressal, and dispute resolution. As a structured, interoperable information infrastructure it will empower consumers by bridging the knowledge gap between different participants and bringing more transparency in the entire insurance value chain.

Shri Ajay Seth, Chairman, IRDAI, while delivering the keynote address highlighted the broader reform context and the importance of strengthening transparency, accountability, and trust in the insurance ecosystem. He emphasized on strategic significance of strengthening governance architecture and enabling data-driven development of the insurance market.

Shri Deepak Sood, Whole Time Member, IRDAI in his address brought out the economic and business case of the PIR and the value proposition for all stakeholders, with a focus on the public good.

The platform is envisaged to consolidate structured insurance data across stakeholders, reduce information asymmetry, improve fraud detection, and enable data-driven regulatory oversight.

Speaking on the occasion, the Chairman, IRDAI stated:“The proposed Public Insurance Registry represents an important step towards modernising the information architecture of the insurance sector. By enabling standardised, consent-based access to structured insurance data, the initiative seeks to enhance transparency, strengthen consumer confidence, and support more effective regulatory oversight. This reform is intended to build a more accountable, efficient and data-driven insurance ecosystem that can support sustainable growth in insurance inclusion, as envisaged in ‘Sabka Bima Sabki Raksha’ vision.” Key expectations from the insurance sector were also discussed including compliance readiness, data governance standards, cybersecurity safeguards, and the role of interoperable digital infrastructure in modernizing the insurance ecosystem. An open forum enabled industry participants to share feedback and suggest practical approaches for smooth implementation.

The programme also featured a dedicated session on Bima Sugam, which included a presentation by the CEO of the Bima Sugam India Federation. The session provided an overview of the platform’s vision, objectives, and its role in transforming insurance accessibility in India.

This was followed by remarks from IRDAI leadership on the way forward and highlighting the importance of industry-wide collaboration to strengthen digital insurance infrastructure. The discussion underscored the need for alignment between the PIR and Bima Sugam to enable seamless access to insurance policies, enhance service delivery, and redefine the overall customer experience.