DENVER, September 15, 2014 - Intermap Technologies®, a leading provider of location-based solutions, today announced further details about a previously announced agreement (June 10, 2014) to license the Company’s InsitePro™ software to an unnamed top 10 global reinsurer for use in a specific Latin American country. Today Intermap disclosed the customer to be Swiss Re, a global leader in reinsurance.
In June 2014, Swiss Re signed an agreement to license Intermap's SaaS based InsitePro software to help them visualize and analyze location-specific risk. Under the terms of the agreement, Swiss Re is using Intermap’s InsitePro product to help bring its superior flood and underwriting knowledge to the Brazilian market in the form of a flood risk assessment tool (FRAT). This tool provides underwriters with a powerful means to evaluate locations one-by-one or thousands at a time via innovative risk models and analytics. The Brazilian flood insurance industry is rapidly developing and InsitePro will help Swiss Re serve the growing demand from its customers throughout the entire Brazilian market.
"Underwriting flood coverage is a location-based decision process that depends on accurate integration of geospatial and flood risk information," said Ivan Maddox, Intermap’s InsitePro Product Manager. "We are providing the necessary software tools to Swiss Re to help them share their best practices underwriting capabilities with their customers, and to also aid in the consolidation of their footprint in the Brazilian market".
InsitePro for Flood Risk Insurance Underwriters
InsitePro leverages Intermap's best-in-class NEXTMap® and NEXTMap World 30™ elevation datasets, together with sophisticated analytics, to produce a powerful SaaS based risk analysis tool. Point-specific ground elevation allows users to go beyond flood models to better understand the risk of flood by determining heights above flood elevation, flow routes from rivers to buildings, and safer locations for new infrastructure and buildings. InsitePro can also display a customer's own proprietary risk data or any available Government data. InsitePro is available to insurers and reinsurers around the world immediately.
About Intermap Technologies