Legal Translation Services for Insurance Companies

Legal Translation Services For The Insurance Industry

(Last Updated On: September 30, 2020)

The Insurance Industry:

Gone are the days when insurance was used by business owners in the Middle Ages to protect themselves from unforeseen circumstances. Today, the insurance industry is worth more than a trillion dollars. It protects both buyers and sellers. In some countries, it is the legal obligation of people to buy insurance. For instance, in the state of New York, a law requires every vehicle owner to get liability insurance. There are different types of policies that people can get. Some of them protect people from calamities, while others are designed to protect businesses from litigation. In any case, since the industry is global, it cannot operate without the help of translation services.

A few common policies are term life insurance, health insurance, and liability insurance. The liability coverage can help people if their vehicle gets damaged in an accident. When someone buys a policy, they are given related documents too. It is better to go through them if you don’t want to be scammed.

Legal Translation Services:

Whenever someone gets an insurance policy, they enter into a contract. Since contracts are legally binding, the insurance policy becomes a legal document. In the United States, English is the native language of the majority of the population. But the country is still linguistically diverse. Nearly 800 languages are spoken in New York. So, if an insurance company wishes to sell a policy to someone who is not fluent in English, they will need to get a legal translation.

Every insurance company in the United States has to get legal translations when dealing with people who don’t know English. If the terms of the policy aren’t clear to a person, they won’t be willing to enter into a contract with the insurance company. But if a person does sign a contract without understanding it fully, they will be making a mistake.

Sometimes, transcription services are also needed in this industry. Whether you need verbatim transcription or the services of a legal interpreter, don’t hire someone without doing research about them. Video remote interpreting allows the policy owner to get in touch with the customer service agent when if they are in a foreign country. This way, they can find out if a health care issue is covered by their policy.

Why is Translation Needed in the Insurance Industry

Legal Translation Services for Insurance Companies:

It is better to understand that legal documents are of different types. The legal system covers every aspect of our lives. There are documents that are used in criminal courts. Then there are the ones that define legal relationships between business partners. The legal documents in the insurance industry are related to the rights of policy owners. When legal translation services for insurance companies are needed then it is important to hire the right expert.

A language service provider that has no experience with insurance forms and claim documents will not be able to provide accurate translations. In order to protect the rights of policy owners, only a reliable translation company should be hired. Whether you need certified translations or interpretation services, it is better to trust only highly qualified professionals.

It is best if policy owners are aware of their insurance coverage. It can not only help them file claims in a better way but also let them know if they need to buy a new policy. For instance, if someone has health insurance but no liability coverage, they need to get it to protect themselves from the financial consequences of vehicle damage. Even a life insurance policy does not cover everything. Getting through the claim process will be of no use if you don’t understand your coverage, to begin with. But if you get a foreign language translation of the policy, you will be able to understand it in a better way.

Who Can Provide Accurate Translations to insurance company

Why is Translation Needed in the Insurance Industry?

The language barrier between an insurance company and a policy owner can create a lot of problems. For instance, if a Korean gets into an accident in China, they will have to get the accident reports translated so they can file an insurance claim when they go back to their homeland. Insurance claims have to fulfill all the requirements of the company. If there is any mistake in insurance claims, the policy owner won’t get paid. The evidence documents and recorded statements of witnesses must also be translated so they can be presented to the company.

If an American get sick in Germany, they will have to get their medical report translated into English to claim insurance money. Without the translation of the foreign language document, it will be impossible to get your insurance. A multinational company has to get legal documents translated into multiple languages before they get insurance. If insurance policy terms are not clear to the business owners and they cannot understand the plan benefits, they won’t be willing to enter into a contract with the company. This is why proper translations are needed if a company wishes to sell insurance policies.

The claim forms have to be translated too, so policy owners can understand them thoroughly. Only by developing an accurate understanding of the policy terms can they file insurance claims properly. With accurate document translation, no policy owner will have any confusion about the insurance law. They will be able to effectively file claims after that.

Who Can Provide Accurate Translations?

The insurance terminology is unique, which is why it can not be understood by everyone. If someone is getting healthcare insurance, then the policy will contain medical terminology that most people aren’t familiar with. But if the source language is translated by qualified professionals into the target language in a way that simplifies the meaning for the audience, then people can understand the policy terms.

Whenever a company or individual needs language solutions, they should not pick the first option. It is better to get quality assurance from a certified company before hiring them. Instead of searching for freelancers, choose a company that has native translators on its team. There are a few experienced teams in the language industry, but you will have to do some research to find them.

If you need both translation and interpreting services then you should find a well-known agency that can help you. It is better to get all the services you need under one roof. Insurance companies have to ensure consumer protection at all costs and they can make that possible with the help of the translation industry. So, it is better to avoid Google Translate even if enhanced machine translation is available now.

If an agency has a quick turnaround time and can help you with not only European but also Asian and African languages, then you should hire them. The right translation agency will have native experts on its team, provide certified translations, and offer support for all the popular languages like Mandarin Chinese, English, Portuguese French, Arabic, Spanish, Russian, etc.

You don’t need certified sworn translators for insurance needs. A qualified expert who understands insurance document translation and uses CAT tools like translation memory can provide you with accurate and efficient results. Thanks to CAT tools, a linguistic expert can meet tight deadlines too.

Who has the obligation to provide translators and interpreters for non-English speaking claimants?

Although it is not the legal obligation of the insurance business to provide interpreting services to claimants, it is the moral duty of the company to arrange for legal interpreters for the best customer experience. Thanks to interpreter services, insurance claims will be filed properly. It will benefit both the policy owner and the company. A legal interpreter plays an important role in scenarios when a direct conversation between the policyholder and the insurance company is inevitable.

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