Success Story of Girish Rao, Founder of Vidal Health Insurance TPA Services
Many Indian young entrepreneurs have seriously started considering entrepreneurship as a career. Many of them have turned from job seekers to job providers.
Today, there are a number of Indian entrepreneur’s success stories that are providing motivation to many young entrepreneurs to start their own business and become entrepreneur. Girish Rao is one of them first generation entrepreneurs.
Many young people, especially IT professionals are quitting their well-paying and secure jobs and starting their own business in industries that are not related to their academic background.
The last decade, India has produced many entrepreneurs hailing from small town and humble background.
The Government of India and the state government have launched several programmes related to entrepreneurship to support young entrepreneurs.
About Girish Rao
The entrepreneur we are talking about above is mechanical engineer Girish Rao who left his job to build a healthcare TPA business,
He started Vidal Health in 2002 in Bangalore with the mission of providing quality third party administration – TPA services. Today, he manages a portfolio of 3000 crores.
Girish Rao is an entrepreneur and co-founder of Vidal Health TPA Private Limited (formerly ‘TTK Healthcare TPA Pvt. Ltd.’), and who has been at the head of six different companies.
Mr. Rao occupies the position of Managing Director at Vidal Healthcare TPA Pvt Ltd, Managing Director and Chairman at Vidal Health Insurance TPA Pvt Ltd. Girish Rao is on the board of more than 10 other companies.
In the past Girish Rao occupied the position of MD at Swiss Re Healthcare Services Pvt. Ltd, CEO at TTK Healthcare Services Pvt Ltd. and Chief Executive Officer & Managing Director at Nova Medical Centers Pvt Ltd.
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He obtained his engineering degree from the University of Mumbai. He is a Mechanical Engineer by profession. He did MBA in Marketing and worked at Hutchison Telecom (now Vodafone Idea) as Sales and Marketing head.
Girish left his high-paying job, reason being, to take care of health services for his aged parents living in India.
He started a service portal for NRIs and their parents. Girish tried many business models from to create an NRI database and working with banks to acquiring a company that physically posted emails from NRIs without internet access to their elderly parents.
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Girish’s businesses did not take off and he lost the funds he had invested. He realized that the network of hospitals he had built in major Indian cities could come in handy when the government of India would open up health insurance to the private sector.
In 2002, Girish has applied for TPA service and got the license from licensed by IRDA (Insurance Regulatory & Development Authority – License No. 016), and provided health insurance policyholders in India and abroad with a good reputation.
The liberalization of the health insurance sector in India in the late 90s and the growing popularity of the Internet accelerated Girish Rao’s entrepreneurial journey. At that time, the Indian health insurance sector was opened up to private organizations.
Vidal works in more than 800 locations
Currently, Vidal – one of India’s top healthcare management companies – operates in over 800 locations in India and partners with over 10,000 service providers, including hospitals, diagnostics labs and physicians.
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Vidal settles more than one million claims and eight lakh pre-authorization requests every year.
Vidal Health Insurance TPA Services handles a portfolio of Rs 3,000 crore in health insurance. However, for Girish, the failure of his first business sowed the seeds of founding Vidal Health Insurance TPA Services.
We hope you find the inspiring story of Girish Rao, Founder of Vidal Health Insurance TPA Services who left his job to build a healthcare TPA business useful and inspiring through your entrepreneurial journey and will keep you inspired.
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