The terms used in the financial and insurance consulting sector are generally difficult to understand because they are very technical and specific. To simplify the use of sector-related terms, OTA provides you with a glossary with some of the most important and commonly used terms.

Browse through the list of terms, read the details, and if there are any other sentences or specific terms you would like to know more about, just let us know by contacting us.

Contact us


What does accountability mean?

Accountability is the “responsibility” of whoever is in charge of managing a process, in terms of its result or objective.


What is amortisation?

Amortisation is the process of breaking down the purchase cost of an asset over the years in which it will contribute to the company’s income. Learn more about amortisation.

Asset management

What does asset management mean?

Asset management means managing corporate assets that have a value of their own and, as such, contribute to the creation of a company’s value.

Business Continuity

What does business continuity mean?

Business continuity is a company’s ability to remain in business. This condition may occur not only when there is an appropriate balance in terms of income, balance sheet and financial position.

Business plan

What is a business plan?

A business plan is a document that describes how a company has decided to evolve in the future: new strategic decisions, new assets, new skills, new organisational structures.


What does compliance mean?

Compliance refers to the adherence to specific and precise requirements: mandatory (e.g. laws and regulations), required (e.g. customer requirements, technical standards) or voluntary (standards voluntarily introduced, for the user’s own benefit).

Disaster recovery

What does disaster recovery mean?

Disaster recovery is the set of procedures defined to handle a sudden negative event and overcome it as quickly as possible, reducing to a minimum its direct and indirect negative effects.

ESG Factors

What does ESG Factors mean?

Learn more about the meaning of a term that combines three key criteria for measuring the environmental, social and governance impact of companies.

Sustainable finance

What does sustainable finance mean?

Found out what “sustainable finance” means, a term that regards investment decisions in the financial sector.

The ESG sustainability rating

What is the (ESG) sustainability rating?

Find out the meaning of an expression used in technical analysis processes, which is used to check compliance with mandatory requirements.

Internal auditing

What is internal auditing?

Internal auditing is an independent activity aimed at helping companies achieve their goals systematically and according to a methodological approach.

Rating Advisory

What does rating advisory mean?

Rating advisory provides technical assistance and consultancy to companies. It seeks to analyse and assess the company’s information base (past and prospective) which is necessary to implement a timely, efficient and effective “rating assignment” process.

Rating Assignment

What does rating assignment mean?

It is the process through which parties external to the company (banks, insurance companies, rating agencies, customers, public bodies, public authorities) assign a rating that summarises the assessment assigned to the counterparty.

Assets reconciliation

What is an asset reconciliation?

It is the process of aligning the accounting situation (as reported in the asset book) with the physical inventory of what actually exists in the company.

Preliminary appraisal

What is a preliminary appraisal?

A “preliminary appraisal” assesses production assets according to specific insurance appraisal criteria and is carried out by entities that are not involved the insurance relationship (typically: broker, insured company).

Supply chain

What does supply chain mean?

It is the organisational system set up for getting a product or service from the supplier to the customer.

Taxonomy alignment

What does taxonomy alignment mean?

Taxonomy Alignment is a process through which companies are required to make their business environmentally sustainable. Learn more

Taxonomy eligible

What does Taxonomy Eligible mean?

Find out the meaning of a term related to the European Taxonomy on Climate Change Mitigation and Adaptation.

Compliance audit

What is a compliance audit?

It is the activity performed to check whether a product, service or system meets the requirements of an organisation, standard or law.