Which term best describes an underwriter's assessment of information on a health insurance application?

The term that best describes an underwriter's assessment of information on a health insurance application is risk classification. This process involves evaluating the individual applicant's information—such as medical history, lifestyle choices, and demographic factors—to categorize them into various risk levels. By classifying the level of risk associated with the applicant, underwriters can determine appropriate coverage options and premium rates.

Risk classification allows insurers to better understand the potential financial exposure they may face from insuring the applicant. This system helps ensure that individuals are charged premiums that reflect their unique risk factors, ultimately maintaining the insurer's financial stability and promoting fairness in the insurance market.

The other terms, while related to insurance, do not accurately describe the specific act of assessing an individual's health insurance application. Risk adjustment refers to methods used to modify payment rates for health plans based on the health status of their enrollees. Risk pooling involves aggregating the risks of a large group to minimize individual exposure, and risk management encompasses broader strategies an insurer may use to mitigate financial loss, which are not specific to the initial assessment of an application.