souscription / tarification

Discussion in 'French-English Vocabulary / Vocabulaire Français-Anglais' started by french4beth, Nov 9, 2006.

  1. french4beth

    french4beth Senior Member

    I have a question as to the difference between the terms souscription and tarification as used in Canada. This is regarding life insurance policies; an agent underwrites the initial application, which is then reviewed by the home office underwriting staff.

    Is there a difference between the two terms in this context? I'm not really clear, and have heard both terms used somewhat interchangeably...
  2. PhilFrEn

    PhilFrEn Senior Member

    Annecy, France
    français - France

    in my opinion, "souscription" means simply to subscrib, and "tarification" means "to give a price/tariff to something".

    For instance, "tarifier 1000€ pour un travail de 5 jours", would mean "the tariff for the 5-day work is 1000€".
    I don't know/find a equivalent for "tarifier" in English.

    A native would help ;).
  3. ara1e

    ara1e Senior Member

    Spain, Galician and Spanish

    In French, "souscription" means both
    the act of someone buying the insurance policy
    and the act of the insurer registering in their systems all the information about the policy.
    Anytime you talk about "souscription", no further medical or economical studies are required, and the buyer becomes automatically a policy holder.
    "Tarification", instead, implies the insurer studies carefully the situation in order to check if they will cover the risk.

    I hope it helps...
  4. multilinguist Member

    Montréal, Québec
    canada, english
    Hi all:
    "Souscription" is literally "signing" the policy... for the client, this means accepting the terms offered by the insurer, but for the insurer, it has a more specialised meaning: deciding whether or not the risk is acceptable to the company, and if so, on what conditions.
    "Tarification" is rendered in English by "Rating"... this means deciding the price to apply given all the circumstances of the risk.
    Very often in an insurance office, the rating is done by computer, with final approval by an underwriter ( a "souscripteur") for more complicated cases. In practical terms, the agent's underwriting authority is determined by his or her agency contract and by the appointing company's underwriting manual which forms part of that contract. Agents have relatively little authority to "underwrite" life insurance business because of the medical considerations which may apply.

    Sorry, I know it's boring, but I used to be president of an insurance company! :)

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