Here is a little “breakfast food” for you this morning:
I watched some of the Apple keynote from yesterday. The interesting part was Jony Ives introducing Watch. He made the comment how important Watch is because you wear it. Because you wear it, you have a personal connection to it.
A lot of companies make products that I wear. I have never seen anyone market it as a personal connection because you wear it. The key is to make the product so much connected to the customer, it becomes part of them. It is not just a product that does things for you. It is something that becomes you.
How can Coaching Actuaries follow this principle? Rather than having a personal connection to something you wear, our connection is that we are feeding their brain. The brain is such an amazing part of the human body. It is like a program: good stuff goes in, good stuff comes out. Garbage in, garbage out. We get the privilege of feeding the brains of many aspiring actuaries and CFA students. We need our customers to realize the long term benefit of feeding them the right brain food. In our world, knowledge is the new currency. We can give our customers something more valuable than money, or even a job. We can empower them with knowledge that can make a difference.
Most people fear risk. That is why they pay extra for insurance. Uncertainty consumes people. The SOA motto is golden: “Risk is opportunity”. Actuaries (and CFA) learn, not just how to manage risk. But, even better. Turn risk into opportunity. It is not a defensive approach. It is an offensive approach.
So, as we put actuarial food into the brain of future actuaries, we need to communicate that risk is not just something to manage, but to turn into something positive. That is one common characteristic of people that are heroes. They take adversity, and turn it into something beautiful.
I’m glad to have such a great team of people to pursue this together.