Accounts Aggregator Foundation Day: IRDAI Chairperson Hails Safe and Consent-Driven Financial Data Sharing

On the occasion of Accounts Aggregator (AA) Foundation Day, Ajay Seth, Chairperson of the Insurance Regulatory and Development Authority of India (IRDAI), congratulated the entire AA ecosystem for making financial data sharing safe, simple, and consent-driven.

Speaking on the significance of the AA framework, Seth highlighted that it is promoting the use of data, analytics, and technology to design insurance products that are more affordable, accessible, and tailored to the needs of policyholders.

“In 2025, the adoption of Accounts Aggregators has grown significantly in the insurance sector, especially in the underwriting of term insurance policies. We encourage more insurance companies to explore and innovate using the powerful Data Empowerment and Protection Infrastructure (DPI) rails,” he said.

Seth further emphasized the strategic role of DPI in ensuring that every Indian family has adequate protection, contributing to the government’s long-term objective of achieving “Insurance for All by 2047.”