New Delhi, Sept. 1 -- In an effort to make the insurance sector more transparent and accessible, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed a Public Insurance Registry (PIR), a digital public infrastructure, to create a more connected and efficient insurance ecosystem.

According to the regulator, the PIR is expected to reduce information gaps and foster greater competition, allowing insurers and other market participants to compete through innovative products, competitive pricing, better services and improved customer experience.

This is in furtherance to the objectives of the Sabka Bima Sabki Raksha Act,2025, the IRDAI noted in a release on Tuesday.

As per the IRDAI, the PIR intends to strengthen ...