Company upgrades its risk management application and grows client subscriptions
DENVER, CO – Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) (“Intermap” or the “Company”), a global leader in geospatial content development and intelligence solutions, today announced an upgraded risk management solution as well as the expansion of contracts and subscriptions with three major European insurance carriers.
Allianz Technology SE (“Allianz”) added Allianz Czech as another operating entity, expanding its contract again in addition to adding its Slovakia operating entity earlier this year. Intermap’s cloud-based risk assessment solution supports underwriting with the same high-precision and consistency across Europe, enabling insurance companies to add and integrate the solution in all areas of operations.
Direct pojišťovna upgraded to the newest innovative version of Aquarius RMA (Aquarius). Intermap’s upgraded Aquarius risk management application includes new and improved module functionality, frequent updates for datasets, new flood hazard maps, updated multi-layer geographic display, a module extension for automatic batch geocoding and other new insurance analytics. The new solution also includes unlimited access for an unlimited number of users, enabling any department within an organization to access to the data and analytics via web services.
“Aquarius is a comprehensive solution that allows us to use flood risk modeling for underwriting and risk analysis, as well as for reinsurance purposes,” said Michal Kozub, Director of Product Management at Direct pojišťovna. “We subscribed to Intermap’s risk management application in 2020 as part of its Software Assurance program, which ensures we have access to the latest insurance software and datasets as the application is upgraded. The latest modernized solution will provide Direct pojišťovna with a consistent and more effective approach for the whole life cycle of our portfolios, from underwriting to reinsurance.”
Pojišťovna VZP, a state-owned insurance company, also expanded its subscription by upgrading services to the new cloud-based Aquarius software and automatic bulk geocoding solution. Pojišťovna VZP provides comprehensive insurance protection of real estate from fire, flood, windstorm, hail, theft and other property damage. This upgrade enables Pojišťovna VZP to increase underwriting precision, perform accurate risk assessments across all its portfolios and expand into new areas of insurance underwriting.
“Intermap continues to grow its European insurance business by offering innovative solutions that help customers solve complex problems,” said Patrick A. Blott, Intermap’s Chairman and CEO. “Our comprehensive analytics and continually updated data enable clients to perform precise risk assessments and expand underwriting services beyond their local clientele.”
To learn more about Intermap’s European services, visit www.intermap.com/european-solutions.
Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", “will be”, “will consider”, “intends” and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. 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 Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. 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 forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company’s proprietary 3D NEXTMap® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company’s commercial applications include aviation and UAV flight planning, flood and wildfire insurance, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. For more information, please visit www.intermap.com.
For more information, please contact:
Jennifer Bakken
Executive Vice President and CFO
CFO@intermap.com
+1 (303) 708-0955