What the registry aims to do
The Public Insurance Registry, launched by Irdai, is intended to help consumers locate insurance products, compare terms and prices, and streamline claims. Advocates say it could improve transparency and save time for shoppers and claimants.
Where the risks lie
- Privacy and data security: Personal information stored in a central registry raises concerns about who can access it, how data is used, and how long it is kept.
- Data quality and completeness: If insurers submit information inconsistently or out of date, comparisons may mislead or omit products.
- Unequal access: People with limited internet access, older devices, or lower digital literacy may struggle to use the registry, reducing its intended reach.
- Regulatory governance: A lack of clear rules on data sources, refresh frequencies, and redress mechanisms could erode trust in the registry.
What would help ensure it stays transparent
- Clear privacy protections and user consent: explicit disclosure of data sources, sharing rules, and options to control or delete personal data.
- Standardized data and regular validation: common data formats, routine cleansing, and audits to keep information accurate.
- Accessible design and language support: easy interfaces, multilingual options, and assistance for underserved groups.
- Independent oversight: an external body to monitor privacy, security, and data quality and to handle complaints.
- Strong security measures: encryption, access controls, and regular security testing to guard against breaches.