DENVER, CO, Sept. 15, 2014 /PRNewswire/ - 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