Abstract: Disclosed herein is a method and system for improving risk assessment for an enterprise. In one embodiment, the user selects one or more risk features and desired filter(s) to preview the risk analysis information of the organisation related to selected feature. Based on user selection, the system retrieves the relevant risk information comprising organization's proprietary internal information from proprietary data repository of the organization and related external peer or benchmark information from benchmark data repository coupled with the system. The system uses the retrieved information to determine an improved risk assessment thereby enhancing the relevance of the selected risk feature for decision making. The system further determines a reliability score for each improved risk assessment and displays a corresponding reliability indicator along with improved risk assessment, providing more confident to the determined risk assessment for effective risk-based decision making.