Yannis Mamalis, CEO and founder of International Brokers, based in Greece speaks to Health & Protection on how he built a career in international health and benefits, how his degree in physics helped him get there, the impact of medical inflation, why nowhere is better than home and how, like Frank, he may have at times bit off more than he could chew.
How long have you been in the international health/benefits advice industry and why did you start working in it?
My main focus has always been health and life insurance. In 2004, I decided to expand my portfolio by including international health insurance plans to meet the needs of demanding high-income clients or those with specialised requirements.
These plans offer clear coverage and exclusion terms, as well as high reimbursement limits—benefits that were lacking in the Greek market.
How long have you been in the industry, when did you start your company and which markets (geographically, industry, people) does your company do business in?
I have been active in the insurance industry since 1991.
In 2017, I founded International-Brokers.com, and in 2020, International-Agents.com, with the goal of offering international health insurance plans in a unique way: simple, understandable, and with absolute customer focus.
This is reflected in our motto: “Because everything begins with you.”
We believe that service does not end with the sale or renewal of a policy but peaks at the moment of a claim.
We stand by our clients throughout the process, ensuring that the insurance company and healthcare providers keep their promises.
We started in Greece and expanded across Europe through the freedom of services framework.
What is the biggest factor affecting the international health and benefits space for you and your company?
The biggest factor is undoubtedly medical inflation, which is constantly rising, often disproportionately to consumer incomes. This leads to higher premiums, making insurance less affordable for many policyholders.
Another major challenge is insurance fraud, which burdens insurance companies with unaccounted expenses.
These losses are ultimately passed on to consumers, impacting premium costs. However, I believe that AI will significantly reduce this issue.
Where do you see the future of IPMI , especially in the major regions that you work in?
The future of international health insurance looks incredibly dynamic. The need for high-coverage policies is greater than ever.
In the Balkans, where the insurance market is relatively small, international health insurance is the only viable option.
Local insurance companies do not have a large enough customer base to manage the high cost of treatments.
Additionally, the increased mobility of insured individuals and the unification of markets create challenges that only international insurers can effectively address.
Who has been your most important mentor throughout your career?
Many people have been, and continue to be, my mentors. I believe that one should always be in a constant state of learning and growth.
One person who, unfortunately, passed away years ago but played a crucial role in shaping my philosophy on international health insurance was Peter Rousseau.
Peter was the driving force behind international health insurance, and I had the honour and privilege of working closely with him. We spent countless hours discussing the industry.
He was a mentor who had the patience to understand my Greek mentality while also helping me to develop an international perspective.
His approach to international health insurance, pricing strategies, and customer service processes was unique and ground breaking for its time.
What advice would you give people thinking about working in the international health and benefits sector?
If someone is already in the insurance industry and has a client base seeking high-level coverage and service, they should have started working with international insurance yesterday.
It’s not just the mobility of insured individuals that makes these products essential but also the higher level of benefits and services that set them apart from local policies.
What has been your greatest success at work?
Over the years, I have experienced both successes and failures, and I have learned something valuable from each experience.
For me, the greatest challenge—and at the same time, my greatest achievement—is creating new processes and tools that improve the experience of our clients and partners—and seeing them being embraced.
Innovation means change, and change is always difficult. But adapting to it is the key to success.
What are your top three priorities for the next year?
- Expanding into new markets through strategic partnerships
- Automating back-office processes with the use of AI
- Getting even more five-star reviews from our clients
What is one personal skill that most people do not know about?
My studies in physics helped me to develop an analytical and methodical way of thinking.
Although this approach is often considered “difficult” in the insurance sales field, I believe it was crucial to my growth.
What mantra do you live by?
“Do not do to others what you do not want done to you.”
This principle guides my companies’ philosophy—both in relation to our partners and our clients.
Innovation and productivity can go hand in hand with ethics and human understanding. We should not be afraid to lose short-term revenue if it means maintaining our values.
If you could work in any location in the world, where would it be?
Right here, in Greece. I believe it is the ideal place to have a base and enjoy its exceptional weather.
With modern technology, professional communication is now conducted online, and traveling is easier than ever.
What song would you regard as your theme tune?
My Way – Frank Sinatra.
It perfectly reflects my philosophy and decisions, both personally and professionally.
