The need for more accurate flood risk assessment became evident in October 2000 when floods that took place in the UK cost the insurance industry 1 billion pounds. In England and Wales around 5 million people, in 2 million properties, live in areas of flood risk.
Norwich Union wanted to review the severity and frequency of floods and embarked upon building a flood model that could be used across the country for assessing every property liable to flooding. In 2002 Norwich Union partnered with Intermap to capture elevation data of the whole of England and Wales. This data would be the foundation for Norwich Union's flood mapping efforts moving forward. Providing more accurate and realistic insurance quotes not only lessens the risk on the insurance company itself but also provides customers with fairer quotes.
"Since the flood map for England and Wales has been completed, we are now in a position to expand beyond our original remit for better risk assessment to exploring wider commercial opportunities," said Brian Richards, Director of Norwich Union's Data Services. "The ongoing relationship with Intermap secured by this agreement is important as we move towards the commercialization of this valuable and innovative data asset," continued Richards.
"When Intermap and Norwich Union started out on this project, no one had mapped a complete country in such detail in such a short time. We are encouraged by the prospect of Norwich Union's pioneering flood map entering the public domain to the great benefit of both commercial interests and society at large," said Eric DesRoche, Vice President of Intermap's NEXTMap division. "The NEXTMap Britain project continues to garner support and in a short time has become the de facto standard for elevation data in the UK, the first choice for both commercial applications and local government," continued DesRoche.
About Intermap
Intermap is digitally remapping entire countries, building unprecedented national databases, called NEXTMap, of highly accurate digital topographic maps (including elevation). Customers purchase Intermap's high-quality, low-cost data to facilitate better decision-making for numerous commercial, governmental, military and consumer applications.
Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood risk analysis, irrigation, environmental management and planning, telecommunications network planning, aviation, simulation and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. The products are also used to add interactive intelligence to airborne and satellite images.
Headquartered in Denver, Colorado, Intermap employs more than 280 people worldwide, with offices in Calgary, Ottawa, Munich and Jakarta. Intermap is publicly traded on the TSX under the symbol IMP. For more information, visit www.intermap.com.
Notes for editors
NEXTMap is the name given to Intermap's national program for mapping the terrain of whole countries in unprecedented detail. This program, which employs Intermap's radar (IFSAR) mapping technology to capture elevation and imagery data, is the industry benchmark for accuracy and affordability. The data is obtainable for areas as small as 2 sq km and available at different resolutions and price points for use with a wide variety of computer software, including CAD, GIS and modeling. The data can be used in a wide range of commercial applications, including engineering, transportation, navigation, environmental assessment and management, mobile network planning, simulation and 3D visualization. Major NEXTMap Britain data users include the Environment Agency, Norwich Union, the National Assembly for Wales, the Scottish Executive and the British Geological Survey. NEXTMap Britain is also being supplied to UK Local Authorities, National Parks and Public Services under the MSA (Mapping Services Agreement).
Corbet Pala
Investor Relations
E-vestor Communications Inc.
(416) 657-2400
cpala@evestor.com