Neil Raymond, founder and CEO of Pacific Prime, a British citizen based in Hong Kong, speaks to Health & Protection about his deep sense of gratitude for his mother’s unwavering dedication, long-term horizons, his ability to code, and a predilection to Always Look on the Bright Side of Life.
How long have you been in the international health and benefits advice industry and why did you start working in it?
I began my journey in this industry in the year 2000 when I moved to Hong Kong as a management consultant, initially advising some of the key players in the region.
Over the past two decades, I have had the privilege of growing Pacific Prime to where it stands today.
Being based in Hong Kong, this allows me to travel extensively, meeting and supporting clients across the globe. It has been an incredible journey, and I am grateful for the opportunity to engage with the growing number of committed staff that I lead.
How long have you been with your present firm and which markets does your company do business in?
I founded Pacific Prime 23 years ago in Hong Kong, and we currently have offices in the UK, USA, UAE, Hong Kong, Singapore, China, Thailand, Malaysia, Indonesia, the Philippines and Mexico.
We started as international private medical insurance (IPMI) brokers in the first decade and have since diversified our services to include corporate employee benefits, as well as property and casualty lines.
Where do you see the future of IPMI globally?
The future of IPMI hinges on technology, which will facilitate improvements in customer experience, enable tailored benefits to meet specific client requirements, and provide better control over premiums.
The use of technology in IPMI can help to streamline the process of obtaining medical insurance, making it more efficient and cost-effective for customers and insurance partners.
Who has been your most important mentor throughout your career?
My mother was very influential in the set-up and success of Pacific Prime. During its formative stages, her guidance, support, and enthusiasm to ‘keep on going’ were essential.
It is important to acknowledge that journey has not been without its fair share of obstacles. The challenges encountered during the initial phases of any venture are often overlooked by those who only see the final outcome.
However, it is these early struggles that shape the character of an organization and lay the foundation for future growth and success.
Looking back, I am filled with a deep sense of gratitude for my mother’s unwavering dedication and belief in the potential of the business.
What advice would you give people thinking about working in the international health and benefits sector?
It is a great industry sector and will be one of the industries that will continue to be relevant and grow for most people’s careers.
My advice would be to invest in learning the industry because there will be many opportunities in the future.
To take advantage of these, you need to gain experience. You will have to be internationally mobile, but for me, that is part of the fun.
What has been your greatest success at work?
Our greatest success has been the development of the management team over the past 20 years.
The success of the business is because of the people we have, and I have truly enjoyed working with them and witnessing the team’s growth to what it is today.
I never expected this when I started the business, but, in fact, it has been the key that has kept me interested.
What are your top three priorities for the next year?
Getting better, and better, and better.
We follow a pretty simple philosophy, which is about making good long-term decisions.
I think most organizations make decisions based on a time horizon that is too short. Therefore, my priorities for the next year are centered on making decisions that will enhance every aspect of the company.
What is one personal skill that most people do not know about?
On a personal level, I am a pretty good golfer.
From a business point of view, I taught myself to code when I started the company. I would struggle to code our software today, but I understand all the basics of our systems and how they work. This is crucial when making decisions.
What mantra do you live by?
You have to try very, very, very hard. Nothing is going to be easy, and when you think you have done 100%, then do 10% more.
If you could work in any location in the world, what would it be?
Anywhere is okay for me as long as my family is there…but somewhere with nice weather is a bonus.
What song would you regard as your theme tune?
Monty Python’s ‘Always Look on the Bright Side of Life.’