Intermap expands insurance products and services across Europe
European Suppliers Adopt Intermap Natural Hazard Data and Applications
Continue to provide the main customers of the national insurance with natural risk analyzes
DENVER, July 22, 2021 / CNW / – Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) (“Intermap” or the “Company”), a global leader in geospatial content development and intelligence solutions, today announced the expansion of its insurance and reinsurance products and services in Europe.
Intermap has extended its software contract with Generali Group by adding Generali Serbia to the existing subscription. Generali is the second largest insurance company in the Serbian insurance market and will use Intermap’s Aquarius RMA solution, customized for Serbia with new maps and accurate flood risk analysis, to increase its premium flood insurance. Aquarius RMA is Intermap’s cloud-based flood risk solution for primary insurers and reinsurers in the Central and Eastern European (EEC) market.
Subscription income in Europe grows as more and more solutions are provided to existing and new customers across the region. In the first half of 2021 ending June 30th, Intermap’s European software subscription bookings grew by 42% in the first half of 2020. The company’s insurance products and services include software applications and analytics for risk assessment as a on-premise solutions or cloud-based subscriptions for flood, forest fire, landslide and earthquake maps as well as elevation profile analysis and drone and AI applications. Intermap also offers reinsurance analysis services including mass geocoding and address / package cleaning, float redistribution, accumulation, choropleth maps, portfolio analysis and natural disaster modeling and maximum probable losses.
Situated at Prague, Intermap’s European operations group provides insurance and reinsurance solutions to major national insurance players in the Czech Republic and Slovakia. In the reinsurance industry, the Company partners with reinsurance brokers to provide modeling of catastrophic flood exposures. Intermap is aggressively expanding its insurance and reinsurance offerings in Central and Eastern European countries and Russia.
“Intermap’s solution will provide Generali Serbia with a consistent approach throughout the portfolio lifecycle, from underwriting to reinsurance,” said Nevena Paunovič, Head of Reinsurance at Generali Reosiguranje Srbija. annual reinsurance renewals. This consistency will help us cede the appropriate amount of risk to reinsurance, which will allow us to maximize the value of our reinsurance coverage.
“Our presence in the European flood market is growing rapidly,” said Patrick A. Blott, Chairman and CEO of Intermap. “We have a long history in the European insurance industry and we are expanding our reach across the continent, expanding our business with existing clients and partners as well as gaining new ones. Understanding the risk of flooding is more critical than ever, and Intermap offers the best solutions in the world. “
Find out more about our European offers on www.intermap.com/european-solutions
Notice to Intermap readers
Certain information provided in this press release constitutes forward-looking statements. The words “anticipate”, “expect”, “plan”, “estimate”, “anticipate”, “will”, “will”, “intention” and similar expressions are intended to identify these forward-looking statements. Although Intermap believes these statements are based on information and assumptions that are current, reasonable and complete, such 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 regarding, among other things, liquidity available to finance operations, availability of capital, fluctuations in income, nature of government contracts, economic conditions, loss of customers. keys, retention and availability of executives, competing technologies, volatility in the price of common stocks, loss of proprietary information, software functionality, Internet and system infrastructure functionality, information technology security, disruption of strategic alliances and international and political considerations, as well as the risks and uncertainties discussed in Intermap’s annual information form and other securities filings. Although the Company makes these forward-looking statements in good faith, if one or more of these risks or uncertainties materialize, or if the underlying assumptions turn out to be incorrect, actual results may differ materially from those expected. Accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will or will occur, or if any of them do, what benefits the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as of the date of this press release and the Company does not undertake to publicly update or revise any forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
About Intermap Technologies
Founded in 1997 and based in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The company’s proprietary NEXTMap® 3D elevation data sets and value-added geospatial collection, processing, analysis, fusion and orthorectification software and solutions are used across a range of industries rely on precise, high-resolution elevation data. Intermap helps governments create authoritative geospatial datasets and provides solutions for basic mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company’s business applications include aviation and UAV flight planning, flood and forest fire insurance, environmental and renewable energy planning, telecommunications, engineering, monitoring critical infrastructure, hydrology, land management, oil and gas, and transportation. For more information, please visit www.intermap.com.
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SOURCE Intermap Technologies Corporation
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