DENVER, CO, Sept. 15, 2014 /CNW/ - Intermap Technologies (TSX:IMP), (ITMSF:BB), a leading provider of location-based solutions, today announced further details about a previously announced agreement (June 10, 2014) to license the Company's InsitePro™ software to an unnamed top 10 global reinsurer for use in a specific Latin American country. Today Intermap disclosed the customer to be Swiss Re, a global leader in reinsurance.
In June 2014, Swiss Re signed an agreement to license Intermap's SaaS based InsitePro® software to help them visualize and analyze location-specific risk. Under the terms of the agreement, Swiss Re is using Intermap's InsitePro product to help bring its superior flood and underwriting knowledge to the Brazilian market in the form of a flood risk assessment tool (FRAT). This tool provides underwriters with a powerful means to evaluate locations one-by-one or thousands at a time via innovative risk models and analytics. The Brazilian flood insurance industry is rapidly developing and InsitePro will help Swiss Re serve the growing demand from its customers throughout the entire Brazilian market.
"Underwriting flood coverage is a location-based decision process that depends on accurate integration of geospatial and flood risk information," said Ivan Maddox, Intermap's InsitePro Product Manager. "We are providing the necessary software tools to Swiss Re to help them share their best practices underwriting capabilities with their customers, and to also aid in the consolidation of their footprint in the Brazilian market".
InsitePro for Flood Risk Insurance Underwriters
InsitePro leverages Intermap's best-in-class NEXTMap® and NEXTMap World 30™ elevation datasets, together with sophisticated analytics, to produce a powerful SaaS based risk analysis tool. Point-specific ground elevation allows users to go beyond flood models to better understand the risk of flood by determining heights above flood elevation, flow routes from rivers to buildings, and safer locations for new infrastructure and buildings. InsitePro can also display a customer's own proprietary risk data or any available Government data. InsitePro is available to insurers and reinsurers around the world immediately.
About Intermap Technologies
Headquartered in Denver, Colorado, Intermap Technologies is an industry leader in geospatial solutions on demand with its secure, cloud based Orion Platform™. Through its powerful suite of software applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location-based solutions for customers in diverse markets around the world. For more information please visit www.intermap.com.
Intermap Reader Advisory
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" 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. You can find a discussion of such risks and uncertainties in our 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.
SOURCE: Intermap Technologies Corporation
For further information: Ivan Maddox, InsitePro Product Manager, [email protected], +1 (303) 708-0955