Insurance is generally a social system that seeks to save in reserve to address unexpected losses to institutions or individuals. This article aims to identify some critical points related to insurance translation services and translation for insurance companies. We will highlight the importance of CCCI as a Professional insurance translation service to translate insurance documents.
- The Sun, the first insurance company to ever come to life, was founded in 1710 by Charles Povey.
- In 1735, the Friendly Society was established as another insurance company in the United States.
- The current trend in the insurance market is that foreign customers check online for the best rates of services.
Table of content
- Translation in Insurance Industry
- Nuances in Insurance Translation
- Translation and Processing of Linguistic Differences in the Insurance Industry
- Translation for Insurance Companies
- CCCI – Professional Insurance Translation Services
Translation in Insurance Industry
Insurance is a means most people depend on to mitigate the risks beyond their control and mitigate the effects they may be exposed to. There are plenty of things people insure themselves and their properties against. The insured pays a monthly contribution to the insurer. Insurance works in the way that all the insurers’ money is paid to those exposed to an accident beyond his control.
The idea of this system came from England. The concept of insurance against fire was launched in many countries, including France, where offering this service was established in 1750. It should be noted that insurance against fire was initially limited to real estate only without transportation, but the development of the field led to its inclusion as well.
Insurance translation services mean translating all sorts of personal and business documents required. To translate insurance documents, they must be viewed by a specific specialist or personnel in the target industry. To accurately translate insurance documents, one should activate insurance terms and build the document’s sentences to align with the target translation system. However, translated documents are reviewed and approved by a certified insurance translator, a linguistic expert whose mother tongue must be the target language that is intensively trained to deal with complex functions.
Nuances in Insurance Translation
Insurance translation services have experienced rapid professional progress. Therefore, the intellectual and cultural structures globally require companies to act towards providing the service to different customers, regardless of their nationalities, social or professional positions.
As it is in any other field, there is hard competition in the market of insurance. Every insurance company which would be better than the majority of companies in the market should adapt to the constant state of flux in the social, cultural, economic, and customer demands.
In this context, insurance translators have become questioned about their location and the effect of their role in managing the nuances in translation. Throughout time insurance translation has been a strategic bridge between insurance companies, their knowledge and scientific system, and their industrial services. How does insurance translation contribute to managing multiple differences to build communication and dialogue between insurance companies? What is its role in developing knowledge and service to achieve development and progress in the insurance industry?