Demand is increasing for data and analytics around the world
Providing global insurance solutions supported by unmatched datasets
DENVER, CO – Intermap Technologies (TSX: IMP; OTCQX: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial data and intelligence solutions, today announced Generali Romania is expanding its risk assessment capabilities by incorporating Intermap’s Aquarius RMA (“Aquarius”) flood risk solution into its core insurance processes.
Generali Romania leverages flood maps that are produced using Intermap’s high-resolution digital terrain models, hydrology data and comprehensive information from the National Institute of Hydrology and Water Management of Romania. The flood hazard maps cover more than 90,000km along rivers. It includes boundaries for 20-year, 100-year and 500-year flood extents, as well as maps of maximum flood depth for each of the periods.
“Generali Romania is one of the leaders of the housing and corporate insurance segments and we are now able to optimize our flood risk evaluation resources through a pioneering collaboration in the Romanian market. This is an important step for making insurance coverage reflect the real-time flood risk as well as to help our clients through better risk counselling and prevention solutions,” said Ales Tausche, Chief Insurance Officer, Generali Romania.
“With historic flooding from Pakistan to Mississippi, record wildfires from Greece to California, and catastrophic drought exacerbated by extreme heat waves around the world, climate resilience efforts are urgent,” commented Patrick Blott, Intermap Chairman and CEO. “Intermap’s global solutions leverage its unmatched, proprietary datasets, global consistency and precision, and speed delivering high-resolution, rapid updates anywhere in the world. These unique capabilities enable insurers across multiple regions to understand and underwrite peril risk anywhere on Earth.”
Intermap’s Aquarius solution is a cloud-based flood risk assessment software that greatly simplifies the access to critical datasets and advanced tools and is customizable to meet different specific customer needs. The Company’s software solution is composed of multiple analytics and geocoding capabilities, providing Generali Romania with a comprehensive picture of the possible flood risk in specific areas and estimated volume of claims and length of service interruption in affected areas. The datasets are continually updated to ensure customers have the latest information in the areas where they operate. This enables customers to optimize several areas of the insurance process, from primary underwriting, risk engineering, product methodology and development, to actuarial science, claims and reinsurance.
For more information, 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, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. Through scientific analysis of geospatial information and patented sensors and processing technology, the Company provisions diverse, complementary, multi-source datasets to enable customers to seamlessly integrate geospatial intelligence into their workflows. Intermap’s 3D elevation data and software analytic capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. By leveraging its proprietary archive of the world’s largest collection of multi-sensor global elevation data, the Company’s collection and processing capabilities provide multi-source 3D datasets and analytics at mission speed, enabling governments and companies to build and integrate geospatial foundation data with actionable insights. Applications for Intermap’s products and solutions include defense, aviation and UAV flight planning, flood and wildfire insurance, disaster mitigation, base mapping, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation.