Enhanced data and analytics enable insurers to improve natural peril risk management around the world
DENVER – Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced a new collaboration with its partner, Twinn by Royal HaskoningDHV, to offer the global insurance industry enhanced, comprehensive flood, natural hazard and climate change data.
Intermap is a trusted provider of flood hazard maps and analytics in the United States, Central and Eastern Europe and Southeast Asia. This collaboration augments both companies’ spatial intelligence capabilities and transforms risk assessment services, enabling insurers to make informed decisions, diversify portfolios and better manage natural hazard risks worldwide. Expanded capabilities beyond flood risk include other natural perils such as extratropical storms, lightning, hail, tornado, wildfire, surge flood, earthquake hazards and volcano hazards. It also includes climate change-based hazard analytics, including sea level rise, drought stress, heat stress, precipitation stress, fire weather and tropical cyclone.
The Global Risk Analytics market size is estimated at US$39.3 billion in 2022 and expected to grow to US$70.5 billion by 2027 with a CAGR of 12.4% (Source). Intermap’s partnership with Twinn by Royal HaskoningDHV expands its dataset offerings in its risk analytics applications, InsitePro® and Aquarius RMA, enabling the Company to provide natural hazard and climate risk analytics on a global scale, extending market reach beyond its core U.S. and CEE customers.
“As the world faces more frequent or severe climate change related weather events like flooding, droughts and storms, organizations are seeking innovative approaches to risk management,” said Mark Nunns, Twinn Head of Commercial, Financial Services. “Leveraging our extensive climate risk modelling expertise, we’re enhancing our combined data and analytics to bring new capabilities to financial services firms. We are committed to growing our partnership, to deliver a market leading, high-resolution, current and future day climate dataset, along with providing a trusted source for all physical climate risk datasets.”
“We are committed to enhancing our spatial intelligence capabilities to provide the insurance industry with critical, quality data,” said Patrick A. Blott, Intermap Chairman and CEO. “This new collaboration with our partner is a testament to our dedication to providing the global insurance industry with the most comprehensive and advanced flood, natural hazard and climate change data, empowering insurers with the data and insights they need to navigate the evolving challenges of natural perils and climate change.”
Intermap’s partnership with Twinn by Royal HaskoningDHV advances risk assessment capabilities for the insurance industry, empowering insurers to make data-driven decisions in the face of growing climate challenges and natural perils. The Company’s InsitePro and Aquarius RMA risk assessment solutions provide underwriters, risk engineers, reinsurance specialists, claims adjusters, actuaries and methodologists with data and analytics to accurately assess a property’s risk level.
Learn more about Intermap’s insurance solutions visit intermap.com/insurance.
Intermap Reader Advisory
Certain information provided in this news release, including reference to revenue growth, 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.
Twinn brings together Royal HaskoningDHV’s portfolio of leading software and data solutions. It builds further on Royal HaskoningDHV’s deep domain expertise to provide digital solutions across multiple sectors. These solutions help organisations to understand the complex interplay across their physical and digital worlds. They provide actionable insights and help manage opportunities and risks to make better informed strategic and operational decisions.
For more information visit our website: www.twinn.io.
About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQB: 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.