Risk Assessment Services

What Risk Assessment Services does

Risk Assessment Services, Inc. (RAS), founded in 2005 and headquartered in Flemington, New Jersey, is a privately held advisory and services firm that delivers multi-shore knowledge process outsourcing solutions to the insurance, legal, and healthcare communities. Its core offering centers on RASXpress™, a trademarked case management and record retrieval portal through which the company provides medical record retrieval, coding, e-summaries, e-sorting/scrubbing, IME chart preparation, and XML-coded output. Subject matter expertise is sourced from a network of 5,000+ content professionals — physicians, lawyers, pharmacists, and allied science experts — based across the US, Jerusalem (Israel), and Manila (Philippines), enabling the firm to deliver American-qualified resources at offshore cost structures.

The company generates revenue primarily through transaction-fee billing for medical record retrieval services paid directly by insurance carriers, while offering complimentary BGA case management (order, status, follow-up, electronic delivery) to General Agencies as a channel lock-in. RASXpress is integrated with 22+ insurance carriers including Prudential, John Hancock, Nationwide, Transamerica, Pacific Life, and Genworth, serving underwriting for life, health, disability, and long-term care policies plus claims processing and legal case preparation. The firm claims up to 75% underwriting cost reduction for clients and maintains HIPAA and GLBA compliance.

Operationally, RAS has remained founder-led since inception; founder David Goldberg retired after 15 years as CEO and continues in an advisory capacity, joined on the advisory board by Stephen Appelbaum (founder of The Evidence Store), Lee Love (insurance investigations consultant), and Jeff McCauley (president of MARKETech). The company has no disclosed funding rounds, no parent company, and operates with a lean direct B2B go-to-market leveraging the RASXpress portal, industry association partnerships (ACLI, ACORD, AHOU, IAOP, LIDMA, LOMA, MIB, NAIFA, NAILBA, RIMS), and advisory-board-driven relationship sales.

Name

Risk Assessment Services

Legal name

Risk Assessment Services, Inc.

Website

https://rasdirect.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Risk Assessment Services (RAS) is a private, NJ-based multi-shore knowledge process outsourcing firm that delivers medical record retrieval, coding, and summarization through its RASXpress™ portal to insurance carriers, legal firms, and healthcare organizations across the US, Israel, and the Philippines.

Ownership category

akta.pro rank

Headquarters

HQ city

Flemington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Medical Record Retrieval Services: Medical record retrieval and processing services billed to insurance carriers. BGA Case Management (including order, status, follow-up) and electronic record delivery is provided complimentary to General Agencies.
2. Knowledge Process Outsourcing Services: Strategic sourcing and vendor management solutions for medical and legal knowledge process outsourcing projects, delivered through a global network of 5000+ content professionals including physicians, lawyers, pharmacists, and allied science experts.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Risk Assessment Services (RAS) is a global advisory group that provides medical record retrieval, coding, and summary services for insurance underwriting, claims processing, and legal case preparation. Through its proprietary RASXpress™ portal, the company connects insurance carriers and General Agencies with a multi-shore network of over 5,000 subject matter experts in the US, Israel, and Manila to deliver knowledge process outsourcing solutions for the insurance, legal, and healthcare industries.

Product overview

Risk Assessment Services offers a unified platform centered on RASXpress™, a case management and record retrieval portal. The service portfolio includes medical record retrieval, coding, and summary services, IME preparation, and knowledge process outsourcing leveraging a global network of over 5,000 professionals. RASXpress serves as the unified interface connecting insurance carriers, general agencies, and offshore subject matter experts to deliver multi-shore solutions for the insurance, legal, and healthcare communities.

Differentiator

Problem solved

Functional benefit

Brands

• RASXpress™: A one-stop record retrieval and case management portal for General Agencies, providing medical record retrieval, coding, and summary services.

Products and services

• RASXpress™ Case Management Portal A one-stop record retrieval and case management portal for general agencies and insurance carriers, providing medical record retrieval, order management, status tracking, follow-up, and electronic record delivery for insurance underwriting, claims processing, and legal case preparation.
• Medical Record Retrieval Services Retrieval of medical records for insurance underwriting, claims processing, and legal case preparation, billed directly to the carrier with complimentary case management services provided to General Agencies.
• Medical Record Coding and Summary Services Customized e-summaries, e-sorting, and scrubbing of medical records with medical coding, XML output, and physician specialist assessments for life, health, disability, and LTC insurance underwriting.
• IME Preparation Services Nurse-performed medical record scrubbing, organizing, and formatting to prepare charts for Independent Medical Exams, reducing internal handling and specialist fees for legal and insurance clients.
• Knowledge Process Outsourcing (KPO) Services Global advisory services providing access to over 5,000 content professionals including physicians, lawyers, pharmacists, and allied science experts for research, analysis, editorial, and coding services in the legal, publishing, and medical information sectors.

Quantifiable outcome

• Reduce underwriting expense by up to 75%
• +1 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Global Knowledge Process Outsourcing LeaderscoreStrategic or Co-development Partner · 1 January 2009Strategic alliances formed with global leaders in knowledge process outsourcing to develop cost-effective value-added underwriting, claims, and litigation services for the insurance industry. These alliances provide infrastructure for large-scale offshore projects and technical expertise for complex systems integration.
• Stilwell ServicescoreStrategic or Co-development PartnerPartnership in 2006 to develop the model for a digital mobile exam to improve and expedite the underwriting process of life insurance. This groundbreaking initiative was later adopted by the leading mobile examination providers.
• HonestyOnline.comminorOthersRAS helped launch HonestyOnline.com in 2005, the leading online credentialing service, and managed their health information services providers.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Firstsource Solutions: BPO/KPO provider with healthcare and insurance verticals, offering medical record management, claims and underwriting support — comparable service lines delivered via global delivery centers.
• Genpact: Large global BPO/KPO incumbent with a dedicated insurance vertical offering underwriting support, claims processing and domain-trained analytics — overlaps with RAS but at much greater scale and breadth.
• Concentrix: Large global BPO serving insurance and financial services customers with CX, claims and back-office operations — competes for the same carrier relationship-management budgets.
• Infosys BPM: BPM arm of Infosys serving insurance and healthcare clients with multi-shore delivery and digital platforms — competes for the same large-carrier outsourcing deals as RAS.
• WNS Holdings: Global BPO with significant insurance industry exposure in underwriting, claims and actuarial services. Competes for the same carrier outsourcing budgets as RAS at much larger scale.
• Sedgwick: Major claims management and loss-adjusting services provider with insurance industry focus; overlaps with RAS on the claims-side record retrieval and review work.

Direct peers

• ExamWorks (now part of Genpact): Closest direct competitor: a medical record retrieval, review and IME services platform serving insurance carriers, attorneys and TPAs. Operates the same record-retrieval-and-review workflow for the same carrier and legal buyer base.
• Veritext Legal Solutions: Direct peer in medical record retrieval and litigation support, serving legal and insurance clients with chart review and record production workflows that overlap with RAS's legal-industry offering.
• Examination Management Services, Inc. (EMSI): Long-standing direct competitor in insurance examination services, including paramedical exams, medical record retrieval and related underwriting workflow services to US life and health carriers.

Others

• MIB, Inc. Industry data and member-services organization for the US/Canada life insurance underwriting community. Not a direct competitor but an adjacent ecosystem player RAS is explicitly tied to via its insurance-resources listing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Risk Assessment Services