Amelie Dionne-Charest, co-founder and managing director of Alea Insurance, a Hong Kong-based broker, speaks to Health & Protection about how she started her company from ground zero in a foreign city, never being afraid to ask for advice, the future of IPMI in South-East Asia, having a laugh and being Astounded.
How long have you been in the international health and benefits advice industry and why did you start working in it?
I fell into medical insurance by accident over a decade ago when I faced serious medical claim issues. I felt extremely vulnerable having to manage my own health and finances simultaneously. There was no one I could turn to for trusted guidance and advice.
As a lawyer who specialised in medical law, I immediately thought of creating a business that would empower people with health insurance information.
How long have you been with your present firm and which markets does your company do business in?
We are a Hong Kong-based insurance broker specialising in IPMI and PMI. We initially provided healthcare consulting services in 2013, before we pivoted and became an insurance broker in 2016.
We serve the individual and group segments. Most of our individual clients are high net worth individuals (HNWIs), expatriate families, or locals with globally-oriented lifestyles.
As for our group clients, we advise companies of all sizes across all industries.
Over the years we have developed a strong portfolio of tech companies and financial services firms. Our clients value our services for our high level of expertise, responsiveness, and personalised approach.
We come from the consumer’s perspective and take great pride in advocating on behalf of our clients.
What is the biggest factor affecting the international health and benefits space for you and your firm?
Rising medical costs, which directly impact insurance premiums.
This year, global medical inflation hit the highest rate of increase in nearly 15 years, at a rate of 10% to 13% depending on the source.
In Hong Kong medical inflation has been fluctuating between 8% to 10% in the past years, which makes renewals particularly challenging and price sensitive.
This is one of the key reasons why good advice on how to choose your plan and provider matters, whether you are buying insurance as an individual consumer, or as group medical insurance as an employer.
Where do you see the future of IPMI in Hong Kong and South-East Asia?
Expatriates who traditionally purchased IPMI will be more and more open to local PMI products which they will find more attractive from a price point.
Conversely, we estimate that more and more local HNWIs with globally-oriented lifestyles will purchase IPMI coverage to be covered abroad and to have medical options in other countries.
I also hope for AI and digitisation to push the industry forward in providing a more transparent and user-friendly experience.
Who has been your most important mentor throughout your career?
I’ve had multiple and very different mentors throughout my life. I’ve never been shy to ask for help or advice. I actually quite like it.
Interestingly these mentor-mentee relationships are never formal, and it wouldn’t surprise me if my mentors didn’t even realise at the time that they were providing valuable advice and guidance.
What advice would you give people thinking about working in the international health and benefits sector?
I don’t feel like I am in a position to give advice. Every person’s or company’s journey is different.
What has been your greatest success at work?
Simply put, starting from nothing.
We started from zero by using all our savings: no capital, no connections, in a city where we didn’t know anyone and in an industry that was completely foreign to us.
Sounds crazy?
Well yes it was, but it goes to show how much Julien (my co-founder) and myself were committed and determined to succeed no matter what.
Alea has grown every year and today, Alea serves thousands of clients, partners with all major IPMI providers and has a passionate team around a strong purpose.
What are your top three priorities for the next year?
To become bigger, better, and stronger. It’s simple and that’s what we’re working on tirelessly.
What is one personal skill that most people do not know about?
I don’t think I come across as a funny person so when I’m humoristic, it surprises people. Look, I can even surprise myself. Isn’t laughter the best medicine?
What mantra do you live by?
My mantras change all the time depending on the seasons of my life and what I’m going through.
Right now, I’m telling myself: “Always follow your intuition.”
If you could work in any location in the world, what would it be?
I’m really happy in Hong Kong. It’s the best place I’ve worked in.
I love its connectivity and how easy it is to do business, meet people and build relationships. The pandemic years were extremely challenging, but I remain very optimistic about Hong Kong’s future.
What song would you regard as your theme tune?
There is one song by a Montreal band I love, Bran Van 3000, that can instantly lift me up: Astounded.