Convert Information Delivery to Effective Communication

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"Miscommunication Blamed for Underestimated Reserves"

"Project Delivery Delayed Due to Internal Communication Silos"

"Underwriters Reject Actuarial Recommendations Due to Unclear Explanations"

These are headlines none of us want to see about our organizations or ourselves. Yet, such situations are all too common and can be tracked back to one fundamental issue: ineffective communication.

Delivery of information is not the same as communication. As actuaries, we do need to deliver information. We have spent a lot of time to develop the latest analysis. We need to present our expertise, demonstrate the value of our work, and highlight our unique approaches and solutions.

Yet the focus on a one-way delivery of our insights and decisions may actually lead to confusion, frustration, and lost opportunities.

Why? Because the audience doesn't hear what we are saying, doesn't see how it connects to their perspective of the issue, and hasn't had a chance to be part of the conversation.

As actuaries, we translate complex data into actionable insights. Releasing the power of those insights hinges on one crucial skill:?effective communication.?It's not just about our analysis; it's about clearly conveying findings and recommendations to a diverse audience (external clients, internal partners, and team members).

Effective communication requires a two-way process. It's more than sending information outward; it's about ensuring it's received and understood, not just delivered.?Whether working with a team or with a client, shifting from a mindset of delivering information to one of effectively communicating an idea will ensure our insights are?understood and actionable.

Core Elements of Effective Communication

The secret lies in?three core elements:

• Understanding Your Audience:?We each process and deliver information differently.?Your own communication style influences how you share information. And the audience's styles impact what they are listening for and how they receive what you are offering. The more you understand about your audience, the better you can tailor your message and the conversation to fit both sides.
• Explore Context:?Look for the "why" behind your message.?Not every audience will be interested in all the details. Before jumping into the delivery of information, take time to clarify the purpose and?significance for your audience,?as well as how it connects to their broader goals. Consider how this conversation or presentation fits with the larger project or relationship.
• Encouraging Dialogue:?Communication is a two-way street.?Watch for cues during the interactions to gauge how your message is getting across. Use questions like "What questions do you have?" or "What did you hear?" and "What might I not be seeing?" to promote discussion and ensure clarity for everyone.

By focusing on these elements,?you can:

• Build Stronger Relationships:?Clear communication fosters trust and collaboration within teams and with clients.
• Improve Project Outcomes:?When everyone is working toward a clear objective and can effectively share results and ideas,?projects run smoother.
• Create a More Cohesive Work Environment:?Effective communication prevents silos and ensures that important information gets where it needs to efficiently.

Elevate your influence

Master these communication skills and watch your insights translate into real-world impact. Remember, the best actuarial communicators are clear, adaptable, and actively listen.

Deeper Dive

In a data-driven field like ours, we often concentrate on the 'what'—delving into the minutiae, interpreting complex data, and formulating innovative solutions and recommendations. That is what we have been trained to do.

Communicating what we know, what we need, and how we can work together with others sounds simple... but it is not always easy.

Here's an insightful article offering practical tips for enhancing your communication skills.

Lab Work

This exercise is designed to help you identify your primary communication style and understand how it interacts with the styles of others. By recognizing and adapting your style, you can improve your communication effectiveness in various situations.

Step 1: Identify Your Communication Style

Consider a current project that you are working on with a team or client. Review the following styles and select the one that best describes you in this situation:

- Action-Oriented: Results-focused, decisive, brief.

- Idea-Oriented: Innovative, future-focused, enjoys exploring ideas.

- Process-Oriented: Systematic, organized, detail-oriented.

- People-Oriented: Team-focused, empathetic, relationship-driven.

Note that you will likely not fall into just one category. The type of communication style that we use is often influenced by the specific situation we find ourselves in.

Step 2: Intentional Adaptation

Reflect on the communication style of your team or your client.

How are their styles different? How might you adjust when interacting with their style?

For instance, if you're action-oriented and working with a process-oriented colleague, consider providing more detailed information or offer documentation of a specific process for later reference.

Step 3: Implementation

During the next week, consciously adjust your communication style in real interactions. Pay attention to the styles that others prefer, and adjust your style to meet theirs in the middle. Observe any changes in communication effectiveness and the responses you receive.

This exercise will help you enhance your communication skills, leading to more effective teamwork and client interactions.

?? Share your insights, thoughts, and findings in the comments or DM me.

Hi, I'm Aree, a sustainable success speaker, author, coach and seasoned actuary. Throughout my healthcare actuarial career, I developed my passion for team-building and mentorship. Now, I've turned that passion into a mission: to empower actuaries and analytical professionals to navigate their complex fields with clarity and purpose. By providing tools, insights, and as a partner, I help individuals build sustainable, fulfilling careers that truly align with their values and aspirations, and help leaders build effective and cohesive teams.

?? Connect with me on LinkedIn: linkedin.com/in/areebly

?? Contact me: [email protected]