The following conversation is between Andy an American businessman doing business in London and Carter a British native based in London. The two men are based in the insurance industry. The conversation will be used to differentiate between the American and British language. The readers of the conversation will be in a position to understand various language components. The idea behind the conversation is to understand the importance of linguistic variations.
Andy: what is the main factor affecting insurance business in the United Kingdom?
Carter: The market viability determines the level of insurance penetration. This is manifested by the manner in which the market operates in the long run. A good example is a smaller and larger market size. A smaller market segment implies that the insurance business will not thrive to the maximum. Insurance is all about numbers and understanding how to make adjustments within the course of operations. It should be noted that other factors determine the penetration mechanism. This is an indication that a bigger market size would be better suited to encourage the growth of insurance.
Andy: There is a lot of stuff going on within the insurance sector in the United Kingdom. From my point of view, I think the insurance industry in the United Kingdom is undergoing a different phase as compared to the American market. It is clear that the UK market is undergoing a series of changes aimed at making the industry viable. This is evidenced by the manner in which the industry is undergoing challenges. Unlike the American market, the British market is still on the phase of adapting to the changing environment. This means that the level of insurance penetration is minimal as compared to the situation in the United States.