Automated Risk Assessment Update API

Public

API Details

The Automated Risk Assessment Update API is a microservice designed to dynamically update risk assessments based on new information inputs. This API streamlines the process of maintaining up-to-date risk profiles by automatically incorporating and analyzing fresh data points. It's particularly useful for organizations that need to continuously monitor and adjust their risk strategies in real-time. Key features include: 1. Automated data ingestion: The API accepts new information related to various risk factors. 2. Intelligent analysis: Utilizes pre-trained algorithms to evaluate the impact of new data on existing risk assessments. 3. Real-time updates: Instantly recalculates risk scores and updates assessments as new information is processed. 4. Configurable risk models: Allows customization of risk factors and their weights to align with specific organizational needs. 5. Audit trail: Maintains a log of all updates and the reasoning behind changes in risk assessments. This API is ideal for financial institutions, insurance companies, and any organization that requires ongoing risk management. It helps in maintaining regulatory compliance, improving decision-making processes, and enhancing overall risk mitigation strategies.

Request Schema

{
  "type": "object",
  "required": [
    "assessment_id",
    "new_data"
  ],
  "properties": {
    "new_data": {
      "type": "object",
      "properties": {
        "value": {
          "type": "number",
          "description": "The new value or score for the risk factor"
        },
        "timestamp": {
          "type": "string",
          "format": "date-time",
          "description": "The timestamp of when this new data point was recorded"
        },
        "risk_factor": {
          "type": "string",
          "description": "The specific risk factor being updated"
        }
      },
      "description": "New information to be incorporated into the risk assessment"
    },
    "assessment_id": {
      "type": "string",
      "description": "Unique identifier for the risk assessment to be updated"
    }
  }
}

Response Schema

{
  "type": "object",
  "required": [
    "assessment_id",
    "updated_risk_score",
    "changes"
  ],
  "properties": {
    "changes": {
      "type": "array",
      "items": {
        "type": "object",
        "properties": {
          "factor": {
            "type": "string",
            "description": "The risk factor that was updated"
          },
          "impact": {
            "type": "string",
            "description": "A brief description of how this change impacted the overall risk assessment"
          },
          "new_value": {
            "type": "number",
            "description": "The updated value of the risk factor"
          },
          "old_value": {
            "type": "number",
            "description": "The previous value of the risk factor"
          }
        }
      },
      "description": "List of specific changes made to the risk assessment"
    },
    "timestamp": {
      "type": "string",
      "format": "date-time",
      "description": "Timestamp of when the risk assessment was updated"
    },
    "assessment_id": {
      "type": "string",
      "description": "Identifier of the updated risk assessment"
    },
    "updated_risk_score": {
      "type": "number",
      "description": "The new overall risk score after incorporating the new data"
    }
  }
}

API Metadata

632

Version

API Examples

Example Request

{
  "new_data": {
    "value": 0.75,
    "timestamp": "2024-03-15T14:30:00Z",
    "risk_factor": "market_volatility"
  },
  "assessment_id": "RA-2024-03-15-001"
}

Example Response

{
  "changes": [
    {
      "factor": "market_volatility",
      "impact": "Increased overall risk due to higher market volatility",
      "new_value": 0.75,
      "old_value": 0.5
    }
  ],
  "timestamp": "2024-03-15T14:30:05Z",
  "assessment_id": "RA-2024-03-15-001",
  "updated_risk_score": 0.68
}