Company upgrades its risk management
application and grows client subscriptions
DENVER, March 24,
2022 /CNW/ - Intermap Technologies (TSX: IMP) (OTCQX:
ITMSF) ("Intermap" or the "Company"), a global leader in geospatial
content development and intelligence solutions, today announced an
upgraded risk management solution as well as the expansion of
contracts and subscriptions with three major European insurance
carriers.
Allianz Technology SE ("Allianz") added Allianz Czech as another operating entity,
expanding its contract again in addition to adding its Slovakia operating entity earlier this year.
Intermap's cloud-based risk assessment solution supports
underwriting with the same high-precision and consistency across
Europe, enabling insurance
companies to add and integrate the solution in all areas of
operations.
Direct pojišťovna upgraded to the newest innovative
version of Aquarius RMA (Aquarius). Intermap's upgraded Aquarius
risk management application includes new and improved module
functionality, frequent updates for datasets, new flood hazard
maps, updated multi-layer geographic display, a module extension
for automatic batch geocoding and other new insurance analytics.
The new solution also includes unlimited access for an unlimited
number of users, enabling any department within an organization to
access to the data and analytics via web services.
"Aquarius is a comprehensive solution that allows us to use
flood risk modeling for underwriting and risk analysis, as well as
for reinsurance purposes," said Michal
Kozub, Director of Product Management at Direct pojišťovna.
"We subscribed to Intermap's risk management application in 2020 as
part of its Software Assurance program, which ensures we have
access to the latest insurance software and datasets as the
application is upgraded. The latest modernized solution will
provide Direct pojišťovna with a consistent and more effective
approach for the whole life cycle of our portfolios, from
underwriting to reinsurance."
Pojišťovna VZP, a state-owned insurance company, also
expanded its subscription by upgrading services to the new
cloud-based Aquarius software and automatic bulk geocoding
solution. Pojišťovna VZP provides comprehensive insurance
protection of real estate from fire, flood, windstorm, hail, theft
and other property damage. This upgrade enables Pojišťovna VZP to
increase underwriting precision, perform accurate risk assessments
across all its portfolios and expand into new areas of insurance
underwriting.
"Intermap continues to grow its European insurance business by
offering innovative solutions that help customers solve complex
problems," said Patrick A. Blott,
Intermap's Chairman and CEO. "Our comprehensive analytics and
continually updated data enable clients to perform precise risk
assessments and expand underwriting services beyond their local
clientele."
To learn more about Intermap's European services, 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. The
Company's proprietary 3D NEXTMap® elevation datasets and
value-added geospatial collection, processing, analytics, fusion
and orthorectification software and solutions are utilized across a
range of industries that rely on accurate, high-resolution
elevation data. Intermap helps governments build authoritative
geospatial datasets and provides solutions for base mapping,
transportation, environmental monitoring, topographic mapping,
disaster mitigation, smart city integration, public safety and
defense. The Company's commercial applications include aviation and
UAV flight planning, flood and wildfire insurance, environmental
and renewable energy planning, telecommunications, engineering,
critical infrastructure monitoring, hydrology, land management, oil
and gas and transportation. For more information, please visit
www.intermap.com.
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SOURCE Intermap Technologies Corporation