New Delhi, Sept. 9 -- The proposed public insurance registry (PIR) could change how you buy and manage insurance. It would connect records across insurance companies, allowing information sharing with your permission. Here are 6 changes the proposal could bring, and the challenges that remain.

Today, your family may not know about every insurance policy you hold. PIR could consolidate policies from different companies into a single view, helping families find forgotten coverage.

If one company settles a death claim, PIR could identify policies with other insurers. With the claimant's permission, those insurers could be prompted to start their claim processes.

Families could search for unclaimed money using other details when policy num...