Rao Tadepalli is the Founder & CEO of DigiTran, an InsurTech company that specializes in digital transformation. They help insurance companies innovate their legacy systems to digital and emerging technologies. Rao has over 30 years of experience working in insurance and has held executive positions since 1992. Rao also has extensive experience in core system transformation, property & casualty insurance, and computer science, among other skills.
This episode is brought to you by:
Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.
Rao joins us to discuss why legacy systems prevent digital transformation and explains how DigiTran helps insurance companies transition into digital systems and platforms. He shares his experience with working in various countries and what he’s learned from all his travels. He describes the insurance industry in India and why it’s still in its infancy. Rao also discusses the qualities an insurance leader needs to succeed in this industry.
What you’ll learn:
- Rao’s childhood, growing up in India, and his fondness for computer science and engineering
- How Rao found a career in insurance
- Rao’s travel experience and his thoughts on the various countries he’s lived in
- The new developments we can expect to see in insurance
- What the FinTech and InsurTech industries are like in India
- Why insurance’s profitability is measured differently compared to other major industries
- The qualities a leader should possess in insurance
- The problem with legacy systems and how it affects digital transformation
- How DigiTran helps carriers and the services they offer
- COVID-19 accelerated digital transformation.
- You cannot have digital transformation as long as you have ancient backend systems.
- Most people outside the insurance industry are disappointed at how long a sale can take.