Public Insurance Registry (PIR)

About Public Insurance Registry (PIR)

• Public Insurance Registry (PIR) has been proposed as a Digital Public Infrastructure (DPI) for the insurance sector.
• Proposed by: Insurance Regulatory and Development Authority of India (Irdai)
• The PIR would also have to comply with relevant laws, including the Digital Personal Data Protection Act, 2023, the Aadhaar Act, 2016, and the Information Technology Act, 2000.
• Definition: It has been described as a “population-scale, interoperable and non-exclusionary” digital infrastructure, which is intended to address information gaps across the insurance sector.
• The registry would enable information sharing while allowing the underlying records to remain with the institutions that maintain them.
• How Will PIR Works:
  • It would function as a common digital layer through which authorised participants can discover, verify and exchange insurance-related information.
  • It would allow different institutions to exchange information using common standards without requiring them to replace their existing systems.
• Who Will Be Connected to PIR:
  • The proposed registry would connect various stakeholders across the insurance ecosystem.
  • These stakeholders would include insurance companies, reinsurers, insurance intermediaries and policyholders.
  • Regulators, financial institutions, government departments and research institutions could also be connected to the registry.
  • This interconnected system would facilitate secure and controlled sharing of relevant insurance information among authorised participants.
• What Information Will PIR Connect:
  • The PIR would connect different types of insurance-related information, including product details, policy records, claims information and intermediary details.
    • It could also include information about premiums, benefits, insurance coverage, complaints, grievances and unclaimed amounts.
  • Linkages With External Databases: The PIR could be connected with external databases for specific purposes without necessarily copying all the information into the registry.
  • The system could also potentially connect with health and mortality registries, weather and disaster databases, and court case-management systems.
• How Will Data Remain With Original Institutions:
  • IRDAI has proposed a “source-system primacy” approach under which the institution that originally owns and maintains a record would continue to be its source of record.
  • It would not replace the existing databases or systems maintained by insurers and other institutions.
  • Under the proposed framework, PIR could maintain a lightweight reference to a record that remains with the source institution.
• Who Will Get Access to PIR Data: Access to information under the PIR would depend on the purpose for which the data is being used.