IRDAI chairman Ajay Seth eyes January 2028 PIR beta
India's insurance regulator, the IRDAI, is looking at January 2028 for a beta version of the Public Insurance Registry (PIR).
The goal? Make insurance data easier to access and share across the industry.
Chairman Ajay Seth shared the news at the SamvAAd 2026 India Open Finance Summit, highlighting how this move could modernize how insurers handle information.
Insurance Information Bureau to manage PIR
The PIR will be managed by the Insurance Information Bureau, proposed to be transformed into a not-for-profit company, fixing current issues with messy data formats between insurers.
About 60 insurers will use standardized ways to collect and exchange information, making it simpler for them (and financial institutions) to work together.
IRDAI is inviting feedback on its plan until October 17 and says PIR will work alongside Bima Sugam (the proposed digital insurance marketplace) to boost transparency and make comparing policies much easier for everyone.