InsitePro wins key renewals and a new client
DENVER, CO – Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) (“Intermap” or the “Company”), a global leader in geospatial content development and intelligence solutions, today announced that its U.S. flood insurance risk assessment solution, InsitePro®, is off to a strong start in 2022 with key renewals and a new client.
InsitePro is a SaaS package that delivers property-specific risk analytics for underwriting flood insurance anywhere in the U.S. and Canada, leveraging Intermap’s proprietary, global, 3D elevation data. Intermap currently provides Elevation Data as a Service (EDaaS) to dozens of customers.
Through February, InsitePro’s Annual Gross Retention (AGR) is 96% and its Annual Net Retention (ANR) is 114%. Key renewals include one of its principal clients at Lloyd’s of London and Managing General Underwriter (MGU) Balance Partners. Renewals form the foundation for InsitePro’s growth, and the strong AGR and ANR results prove the dependability of InsitePro’s renewal revenue.
The U.S. flood market remains a key driver for InsitePro’s revenue growth and future revenue potential. The market is one of the largest untapped sources of new premium for insurers, with over $5 billion in unwritten premium available. InsitePro enables insurers and underwriters to capitalize on that opportunity profitably and intelligently.
“Intermap’s enterprise software business continues to deliver a strong platform for the Company to deliver world-class geospatial data and analytics,” said Patrick A. Blott, Intermap’s Chairman and CEO. “Our fundamental capabilities make geospatial intelligence usable by non-experts, and InsitePro is a perfect example of this. InsitePro ensures underwriters have access to the best possible data and models in real time, without the need to hire a team of GIS experts.”
Intermap Reader Advisory
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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.