Forgotten Insurance Money? New Registry Helps You Find Lost Life, Health & Motor Policies

IRDAI has proposed a new digital system called the Public Insurance Registry (PIR), a single, secure platform that connects your life, health, and motor insurance data across every provider. Released for public consultation on 1st September, it's designed to end the hassle of juggling multiple insurers and apps.

Imagine one dashboard showing every policy you own, life, health, motor, all in one place. You'll be able to track renewal dates and even update details across insurers at the same time, instead of logging into separate portals for each one.

Crores worth of unclaimed insurance money sits unclaimed in India simply because families don't know it exists. PIR aims to help relatives discover dormant policies and verify exactly who the nominee is, so benefits reach the right hands, faster.

By standardising records digitally across insurers, PIR could speed up how claims are processed and settled. That means less paperwork, fewer delays, and a smoother experience when it matters most.

Ever hesitated to switch health insurance because you'd lose accumulated benefits? PIR could make portability seamless, letting you compare policies, pricing, and even check the track record of agents before you buy.

It's not just customers who benefit. Insurers get access to standardised, market-wide data to price risk better, while greater transparency could build long-term trust between insurers, intermediaries, and policyholders.

Merging decades of records from different insurers into one clean format won't be easy, experts warn. Privacy and consent will also be critical — easier access to data shouldn't mean unrestricted access. Public feedback on the proposal is open till 30th September.