Cooperative agreement with Guy Carpenter allows Intermap to offer French insurance market risk management solution nationwide
Wednesday, September 3, 2008
DENVER & Munich, Germany: Intermap TechnologiesTM today announced an agreement with Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist to their Instrat® unit with high-resolution digital elevation models. The models will enable, in collaboration with hydrological modeling experts JBA Consulting, the development of comprehensive flood hazard maps and a state-of-the art national flood model for France.
Intermap's digital elevation models, collected as part of its NEXTMap® Europe — France countrywide 3D digital mapping program, will enable Guy Carpenter and JBA to produce detailed flood boundary maps of the modeled river network. These maps will depict both the depth of water and the area flooded for four return periods (50-, 100-, 250-, and 1000-years). Specifically, Intermap will provide Guy Carpenter with a uniformly accurate 3D digital terrain model (DTM) for the whole of France.
Under the terms of the agreement, Intermap will be able to add the resultant flood maps to its extensive risk management solutions portfolio. “I am excited about this unique cooperation with Guy Carpenter and JBA,” said Manfred Krischke, Intermap's managing director and vice president for Europe. “This relationship will allow Intermap to offer superior risk management solutions to the French market and to set the de facto flood risk assessment standard for years to come. The fact that we will have full use of these outstanding flood maps, as well as the ability to make them available to our own customers, merely highlights the tremendous synergies comprising this relationship.”
The agreement also involves JBA Consulting, which will be responsible for providing river-flow modeling for approximately 80,000 kilometers of the French river network, using a comprehensive set of historic hydrological data collected from nearly 3,700 river gauge stations throughout the country. The modeling of river-flow will leverage J-Flow, JBA's 2D hydraulic model, routed through Intermap's 3D DTM with a vertical resolution of 1 meter.
“By combining our probabilistic modeling capabilities with the finest digital terrain model and a unique hydrological modeling approach, this will be the most detailed countrywide model of the French territory available,” said Bernard Paul, Managing Director, Guy Carpenter. “We plan to complete flood hazard maps by the end of 2009, closely followed by a fully probabilistic national flood model for France in early 2010,” added Manuel Chirouze, project manager for the France Flood model development and member of the European model development team in Guy Carpenter's Instrat® unit. “We expect that the model will enable insurance companies to better quantify their exposure to flood for reinsurance and risk management purposes.”
About Intermap Technologies
Intermap (TSX: IMP.TO, AIM: IMAP.L) (the “Company”) is a preeminent digital mapping company creating uniform high-resolution 3D digital models of the earth's surface. The Company is proactively remapping entire countries and building uniform national databases, called NEXTMap®, consisting of affordably priced elevation data and geometric images of unprecedented accuracy. Demand for NEXTMap data is growing as new commercial applications emerge within the insurance risk assessment, GIS, engineering, automotive, personal navigation device, oil and gas, hydrology, environmental planning, wireless communications, transportation, aviation and 3D visualization markets.
Headquartered in Denver, Colorado, Intermap employs more than 800 people worldwide, with additional offices in Calgary, Detroit, Jakarta, London, Munich, Ottawa, Prague, and Washington D.C. For more information, visit www.intermap.com.
NEXTMap® is a registered trademark of Intermap Technologies Corporation.
About Guy Carpenter
Guy Carpenter & Company, LLC is the world's leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies. With 50 offices worldwide, Guy Carpenter creates and executes reinsurance solutions and delivers capital market solutions* for clients across the globe. The firm's full breadth of services includes line of business expertise in Agriculture; Aviation; Casualty Clash; Construction and Engineering; Excess and Umbrella; Life, Accident and Health; Marine; Medical; Political Risk and Trade Credit; Professional Liability; Property; Retrocessional Reinsurance; Surety; Terrorism and Workers Compensation. GCFac® is Guy Carpenter's dedicated global facultative reinsurance unit that provides placement strategies, timely market access and centralized management of facultative reinsurance solutions. In addition, Guy Carpenter's Instrat® unit utilizes industry-leading quantitative skills and modeling tools that optimize the reinsurance decision-making process and help make the firm's clients more successful. Guy Carpenter's website address is www.guycarp.com.
Securities or investments, as applicable, are offered in the United States through GC Securities, which is a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Advice on securities or investments in the European Union is provided through GC Securities Ltd., authorized and regulated in theUK by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., GC Securities Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.
About JBA Consulting
JBA was founded in 1995 and is a leading specialist in flood risk and environmental management. The firm provides a uniquely integrated service in civil engineering, spatial modeling, GIS, wetland ecology, engineering, environmental and strategic water management, process modeling of the whole water cycle, and information management. JBA combines technical excellence and experience with pragmatism and value for money. Our team consists of over 200 technical staff including specialists in ecology, risk assessment, engineering design, hydrology, hydraulic analysis, hydrometry, water resources hydraulics, river basin management, emergency planning and database and GIS development. It is our aim to provide a focused, quality service with an environment of continual staff development through a program of training, mentoring and inward investment. JBA's website address is http://www.jbaconsulting.co.uk/
For more information, please contact:
This news release may contain certain forward-looking statements, which include certain assumptions with respect to the future business and operations of the Company. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.