Professional Language and Culture
The professional culture and language of field workers in finance insurance is a report involving individuals working in finance insurance widely focusing on the tone and environment to which they work upon. The field associated to finance insurance is one that assists an institution against the risks of loss when it’s carrying out its activities. It is very evident that there are various attitudes and perspectives that enhance the shaping of finance insurance into certain patterns. The finance insurance profession has been associated to that profession that requires one to be a jack of all trade in the provision of its services. In this report we have interviewed two managers that is Nick Yu who is a manager of Sunlife Insurance and Ms Zou who is the manager of East Asia Bank so as to obtain concrete communication and language found in the field of finance and that of finance.
Professional Language and Culture
It is very evident that they have been occurrences of risks affecting many organizations; this factor has been considered to broaden the constantly changing language and culture of finance insurance. Depending on the kind of risk happening at a particular time, the culture language and responsibility change day in day out. From the definition of finance insurance, that is business arrangement which assist businessmen in engaging in transactions that may lead them in obtaining losses, it is evident any business or corporation requires a finance insurance department that will raise an alarm should there be any kind of risk within the corporation (Simon, 2002).
According to Laster (2001), it has been noted that many companies have come realize that the insurance and finance field work hand in hand with each other. It is very essential that an insurance field worker to obtain knowledge on finance and similarly, it is important that a finance field worker to have knowledge on insurance, in so doing the companies will also be guaranteed a secure future free from risks and losses. Both finance and insurance background are constantly required in the management of companies and businesses.
Work place culture
Simon (2002), being a field that requires the establishment of new ideas, finance insurance generally requires a lot of effective communication among its workers. It is important that members in the two departments that is finance and insurance to have continuous communication amongst themselves so as to advice on current risks that are likely to affect businesses and corporations. For instance, when the insurance department wants to limit maximum losses to occur it is very essential that it communicates with the finance department so as it can be able to advice this department on how it is going to evade a loss and to how it will carefully handle its finances.
Communication has been considered to form the fundamental factor toward the success of all corporations and businesses. Finance professionals communicate on daily basis so as to provide information to the insurance professional so as to convey information on cash flows that have been witnessed within the company. It is very crucial that both the insurance, finance and all departments within this organization are reading from the same page on matters regarding finances and risks involved.
With the increase concepts issued on the female and male gender which has greatly influenced the perception, it is very important that for a company to achieve its optimal goal there should on negative issues associated to the employees in this field. The field of finance and insurance contains a broad spectrum where everyone regardless of his sex has an opportunity to work in. it is important that field of finance insurance is open, friendly and result driven due to the efforts exerted by all its workers regardless of the kind of gender they are in (Simon, 2002).
Mentoring of new professions
A company is termed as successful when it is has been able to mentor and nature new professional. In the finance insurance, due to the daily activity revolving around finances it is very important that the field is able to establish new individual within the field through constant training. It is evident from the historical background of rapid changes within the field, the mentoring of new professional within the field is highly required, and in return these individuals are expected to display their whole self within the workplace so as to achieve through effective training (Zou, 2010).
Definition of goals and purpose
It is very evident that the field of finance and insurance is supposed to have a clear definition on what is in its goal and purpose in the building up of the society. Every individual should be brought up to understand the various stipulated goals within the organization so as to achieve of what is required from them. In terms of finances there are certain goals that are drawn so as to cover the cash that is either flowing in or out of the company (Yu, 2010) . In order for employees to achieve the stipulated goals, it is important that organizations come up with ideas that will ensure that they will be rewarded so that they can focus on improving on the kind of work they do perform.
The unification between finance and insurance thus creating a finance insurance field within a large organization can be defined as professional. The tone associated with this field is that of clear and understandable within the reach of knowledge and education. In the field of finance insurance, one can be able to obtain the language of clarity and understanding through obtaining knowledge through understanding basic finance and insurance terminologies (Eduard, 2008).
It is very evident that the language involved in the finance insurance terminologies are normally common but it is not likely that you will hear one using this terms within a simple conversation. When conversing with other individuals on matters regarding finance or insurance, the language involved is basically the often words we tend to hear. For instance an individual in finance insurance will constantly use the word casualty to refer to loss or liabilities that result to unintentional activity.
Schertzinger (2009) points out that it is very important to use acronyms when explaining to an individual on what is entailed in finance insurance. For instance by the use of the acronym COLA to refer to Cost-of-Living Adjustment, this way of using makes it easier to remember those words that contain long words. Through knowing what an acronym stands for and what representation they hold are considered as two different concepts. For example a new recruited individual may know there is a department called IRIS but it is not necessary that she or he know what it means.
In the finance insurance profession, it is so obvious there is more written language as compared to spoken language. Documentation is very important especially when it comes to handling of activities involving cash and when payments are being made by the insurance in the case of losses. Documentation can be in terms of emails which are not to be soft copies and paper work which is considered to be hard copies (Eduard, 2008).
Although recently technology has improved, it is evident that within the field of finance insurance paper work has been seen as the kind of written communication whereby is secured for future reference. Emails are considered as the most common form of written communication to respond to information both internally and externally within the finance insurance industry (Schertzinger, 2009). The features used within the emails depend highly on the individual conveying the information. When an individual in the finance insurance field takes the initiative of emailing all team members the tone within this task is considered to be profession and unifying among team members.
From the above report, it is very clear to state that the profession within the field of finance insurance is essential in the shaping up of culture and language that revolve around this field. As it has been described by our interviewers’ people working within the field of insurance are expected to be all rounded people since it is obvious that in their line of duty they are likely to meet various individuals. Through our constant discussion, communication forms an integral part in shaping up the success of the finance insurance therefore it is very important that a company is able to build up on their communication protocol within its team members. Due to improved technology, email and reports should be completed on daily terms so as to establish a tone that describes professionalism. Finally, it is very essential that the field of financial insurance to be conscious of the several differences that are linked to culture and language. It is evident the knowledge of a second language has enabled most companies and industries to work at international level.
Eduard, N. (2008, September). Nonverbal Language – The Weapon of the
Insurance Agent. Public Relations Review, 18 (2):161-175
Simon, J. (2002). Embracing risk: the changing culture of insurance and responsibility. Chicago: University of Chicago Press.
Schertzinger, A. (2009). Value Creation by European Insurance M&A. Wiesbaden: Betriebswirtschaftlicher Verlag Gabler.
Laster, K. (2001). Law as culture. Sydney, NSW: Federation Press
A: Journal Analysis
Eduard, N. (2008, September). Nonverbal Language – The Weapon of the
Insurance Agent. Public Relations Review, 18 (2):161-175
Typical Journal Reader
The name of the journal is “Public Review Relations” and it has no specific audience because public relations are practice everywhere irrespective of occupation. Any one can read this journal due to its plea to a big public audience.
Article’s Main Points
The article’s main points are as outlined below:
- Necessity on non-verbal communication in the insurance industry.
- Components of non-verbal communication
- How to us non-verbal communication effectively.
What the Author Assumes the Reader Knows
- Insurance policy
- Insurance agent
- Meaning of non-verbal language in general terms
Cited People and the Manner in which they are Cited
- Quote from Joseph A. De Vito
- Explanation s from Jean Stoetze
- Quote from Gârboveanu Steve
- Quote from Politis Arthur
“Nonverbal Language – The Weapon of the Insurance Agent,” as the title of the article is very straight forward. Eduard discusses in details how non-verbal language is a critical tool for insurance agents. The article details all forms of non-verbal language and their relevance within the insurance field. Finally how to effectively engage this form of language is also discussed.
Illustrations within the Document
The document lacks illustrations of any kind.
Technical Terminology and Acronyms
The document insignificantly uses technical terms. It is written in simple terms that can simply be understood by anybody.
Main point of View
The author uses third person as the main point of view
The Document’s Voice
The key voice within the document is composed of one authority even though the author quotes a number of other scholars.
Average Sentence Length
Averagely, sentences in this document are made up of 20 words each. This figure was obtained through a mathematical calculation where 10 sentences were randomly selected from the whole document and their average word count obtained. The 10 sentences composed of 198 words, which were divided by 10 to get 19.8 per sentence.
Average Paragraph Length
On average the length of all paragraphs in the document was 5 sentences. This was reached through a random selection of the paragraphs within the whole document.
Type of Sentence within the Document
The document is rich in sentences varying from simple to complex structure.
B. Interview Summary
Two significant individuals within insurance and banking industry were interviewed. The first one person to be interviewed was Manager of Sunlife Insurance, Nick Yu and secondly Manager of East Asia Bank, Ms Zou. Interviews were done orally face to face. Information obtained is based on many years of experience and considered impartial as there is no any relation between the interviewer and the interviewees.
Nick Schertzinger, Manager of Sunlife Insurance conducted November 21, 2010
HR is the backbone any organization, how does Sunlife Insurance handle this issue?
The company has worked hard to develop its human resource team and make sure that this growth does not compromise the newly inducted team’s quality. Senior management consistently participates in the selection exercise to majorly assess the job skills’ adequacy other than experience. The tremendous growth of the company in terms of its branches has called for recruited of more staff.
How do you ensure proper communication is effected within the organization?
As you well understand, effective communication is key to operations and growth of any insurance company. We ensure that as an organization, all protocols are observed incase of any issue and all communication lines within my desk are open. We have cultivated respect; each individual respects their counterpart’s work and opinion and that is how we have grown stronger every day.
What to do you during your free time?
Well I love touring places, reading business journals and watching documentaries.
How does your company deal with amplified competition within the market?
Competition is a fact that we have to be comfortable with at all times because it is inevitable, in the wake of mushrooming insurance companies. We deal with this through persistent analysis of our performance and appraise whether we can improve how we underwrite/operate our business.
How were you affected by global economic crisis? How did Sunlife handle this new challenges and risks?
The insurance sector was not significantly affected by the global credit crunch as other sectors did. Companies and individuals still seem to purchase insurance not considering the financial climate, particularly in the field that call for compulsory insurance. Most insurance companies maintain growth within their business and demonstrate positive financial outcome. For instance the London office is primarily concerned with Energy allied insurances, this kind of insurance is an obligation for big firms, most key energy companies have to keep their balance sheet, and they end up using insurance as one of the channels.
Ms Zou, Manager of East Asia Bank conducted November 21, 2010
How do you feel as the manager of such prestigious bank?
I am happy because I understand how being in such a challenging position means. I am determined to take the bank to the highest level possible.
If you asked to describe culture in your present work culture, how would you define it in terms of how people relate and communication?
Since the bank’s inception, even before I was hired, the culture has always been objectivity in all the operations. All individuals are self driven and result oriented, always wanting to learn new things form one another for effective production. All this has been facilitated by only one thing, effective communication.
How do those under you respond to your designation?
Doing your work with integrity and professionally command respect in any field, that is what is happening here at East Asia. Everyone respects what I do as also respect their work. Even though there are those who may want oppose some of the decision made, dialogue has been the tool that clears all the misunderstanding.
How do you advice other individuals with an aim of becoming a bank manger in future?
Keep on working hard and remain focused. There are so many opportunities out there as many banks coming up. Your efforts can never go unrewarded.
Did the global credit crunch affect your banks operations?
Virtually all financial institutions get affected by variations in the global economic climate. Even though the economy is slowly picking up, the situation was a big challenge to us especially within our strategic planning. However, our general operational strategy was not significantly altered as we have always strived to put sustainable projects in place that can endure the economic down-cycles.