Whether through force of circumstance or for reasons of personal ambition, some executives take stock in mid-career, deciding to strike out in a new direction and see where it leads.

Patrick Graham did just that, prompted in part by the fallout of the global financial crisis, but also by the chance to take on new challenges in an unfamiliar industry – and he has no regrets about the choice.

Now Asia-Pacific chief executive for insurance company Cigna, he oversees a portfolio of businesses, with the scope to improve lives, promote affordable health care, and slow the rise of chronic diseases with the help of new technologies.

“You end up slightly bipolar by focusing on short-term returns while also planning for longer-term growth,” Graham says. “The number-one thing for me, though, is building innovative solutions around health and wellness. It is important to be a leader in areas like wearable tech and implanted devices and to recognise the insurance implications of more self-diagnosis.”

Since his father worked for Mars confectionery, Graham grew up as an “expat kid” in the Netherlands, France and the US. He spent much of his teenage years at school in Paris, boarding with a French family to be immersed in the language, and in general had little trouble adjusting. “Because of that background, I wanted to work overseas when I graduated.”

With that goal in mind, he studied 17th-century French history at the University of London’s Queen Mary Westfield College. He paid his way through college by working in pubs and running the student union, and was making so much by his final year that joining the European headquarters of GE Capital – then part of the world’s biggest company – meant taking a cut in income.

“As a management trainee, I liked that they offered a structured programme, which allowed you to rotate and could include international assignments,” he says. “My first job was in Leeds [in the UK] running a debt collection team, some of whom were doing the job before I was born. They made my life miserable, but it was certainly a good learning curve.”

After a short stint in the US came a move to India in 1998 as a junior project manager helping to launch a joint venture with the State Bank of India. “I loved it,” Graham says. “I still had student debts, so being able to live on expenses was fantastic. It was also interesting culturally, and that’s where I really got my Asia bug.”

Subsequent moves led to three years in Tokyo, where he met his future wife, then Thailand, Britain and Shenzhen, working on a series of financing-related projects in fast-growth environments. Whether involving credit cards, insurance, loans or non-traditional financial products, all of them provided different challenges and experience.

Overall, he preferred the client-facing sales and marketing aspects to the more technical functions, but always knew how success was ultimately measured.

“In GE, P&L is king,” he says. “In 2006, I was given that responsibility managing a business focused on retail finance back in Thailand. It was unprofitable, but we turned it around, and I learned some tough leadership lessons along the way. I reflect on those now, if I’m putting other people in P&L roles for the first time. Still, though, nothing prepares you for being the boss, having to make the calls and knowing the buck stops with you. You are thrown in at the deep end facing media, employee and regulatory issues, and you just have to roll with it.”

More tough lessons were learned when the financial crisis hit in 2008. As a direct result, the parent company went from being in around 40 countries to about 20, and put a large “for sale” sign on the front door.

Graham could have stayed with the commercial side of the business, financing power stations and other projects, but after due consideration, opted instead to join Cigna in August 2011.

“It can be easier to fall back into your comfort zone,” he says. “Until then, I had always focused on the consumer finance sector, which in hindsight was a mistake. To get into the senior executive band, I needed to round out my experience and skills.”

Though ostensibly taking a step back by doing a purely sales role for the first 18 months, Graham learned the insurance business, particularly liked the health care angle, and was enthusiastic about the company’s vision and direction. The opportunity came to run three emerging markets – India, Thailand and Indonesia – from a Hong Kong base and, before long, he was overseeing operations for Cigna’s current seven countries across Asia.

Priorities obviously differ depending on each market’s scale and degree of maturity. To be locally relevant, it is essential to share ideas, technology and investment, while also letting the seven CEOs run things in their own right.

“I have to step back and allow them to do it,” Graham says. “The inclination is to get involved in the day-to-day business, but that is one thing you can’t do. You have to hire good people and rely on the team around you, so I’ve adjusted my management style accordingly.”

With a three-year-old daughter, weekends naturally centre on family activities. And, while Graham maintains a passion for rugby and history, recent reading has also included books on how to raise girls.

“Some of it is just common sense, but it also makes you reflect on what you do as a parent.”

PREMIUM POINTERS

Patrick Graham imparts his leadership advice.

Keep moving  “We are trying to disrupt ourselves in an industry which is traditionally resistant to change. If we are not prepared to do that, we are placing our future at risk.”

Stay versatile  “The skill sets and expertise we look for are really changing. When recruiting, we focus on people who are adept at leveraging technology and can bring diversity of thought.”

Look outside  “We have chief executives around the region who joined us with no insurance experience but with a background in FMCG, industry or the medical profession. That allows them to offer new ideas and perspectives.”

Be flexible  “We recognise that today’s graduates are interested in CSR, flexible hours, and having time off to pursue other activities, so we are making subtle changes to take account of this.”

Stand out  “To attract the right individuals, including technology specialists and licensed actuaries, we do a lot of work on employer branding and encourage them to call us.”

This article appeared in the Classified Post print edition as Forging a new path.