why English is the ‘operating system’ of global communication +some new words (cópia)

According to the British Council, English is spoken at a proficient level by 1.75 billion people - around a quarter of the world's population. It has established itself as the dominant language of international business, linking professionals, organisations and industries around the world.

Discover why English is the dominant communication system in today's global business world.

English Bridges Communication Barriers Across All Businesses

Companies from different countries use English as the common language to ensure that all parties are on the same page. Having a shared language helps to streamline negotiations and reduce the risk of miscommunication during these critical business interactions.

When it comes to forming partnerships, mergers, and acquisitions, English is often the language of choice.

If a European company enters a joint venture with a U.S. or Asian partner, English will often be the default language for meetings, contracts, and communications, regardless of the native languages of the parties involved.

Whether it's a small insurance company or a multinational corporation, businesses need a common platform to engage with partners from various linguistic and cultural backgrounds, fostering collaboration and reducing language barriers.

English is in the DNA of the insurance sector

Modern insurance originated and was consolidated in London, where institutions like Lloyd's of London shaped global communication standards in the industry, including the use of English for contracts and technical terminology.

• English is the dominant language of international insurance contracts, policy terms, claims processing, and underwriting. For instance, when multinational corporations purchase global insurance policies to cover risks across several countries, the terms and agreements are typically written in English.

• Major international insurance companies, including AIG, Allianz, and Zurich, operate in multiple languages but standardize key documents, communication, and procedures in English. This is because English allows these companies to maintain consistency across their operations and ensure clear communication with clients, brokers, and regulators around the world.

• The global reinsurance market, where insurers share large risks with one another, also relies heavily on English. Reinsurers like Swiss Re conduct much of their business in English, from underwriting complex risk models to negotiating coverage agreements.

Standardization

Businesses must navigate a labyrinth of regulations, compliance standards, and industry practices—many of which are established and communicated in English. This is particularly evident in the insurance sector, where regulatory bodies issue rules and guidelines in English to ensure consistency and transparency in operations.

English is also the language of the world's most important international regulatory bodies, such as the IMF (International Monetary Fund) and the WTO (World Trade Organisation).

Bridge (barriers) – (verb) To overcome obstacles or difficulties.

• Example: English bridges communication barriers across businesses.

Foster – (verb) To encourage the development of something.

• Example: English helps foster collaboration across different businesses.

Streamline – (verb) To make a process more efficient by simplifying or eliminating unnecessary steps.

• Example: A shared language helps streamline complex negotiations and operational processes.