GLOSSARY
What is Risk Assessment AI?
Last reviewed:
Quick Answer
Risk Assessment AI evaluates and quantifies risk across insurance underwriting, claims, healthcare utilization, and financial decisions. It analyzes historical patterns, identifies risk factors, calculates probability scores, and recommends risk mitigation strategies—enabling faster, more consistent risk evaluation than manual assessment.
Definition
**Risk Assessment AI** combines historical data, domain expertise, and machine learning to predict likelihood and severity of adverse outcomes. Whether assessing insurance applicants, claim fraud potential, or patient care risks, AI provides quantified risk scores with explanatory factors.
Key Points
- Quantifies risk using historical data and patterns
- Identifies risk factors and contributing variables
- Provides risk scores with confidence intervals
- Explains which factors drive risk assessment
- Enables consistent risk evaluation across cases
- Improves over time as new outcomes are observed