Integrating data and analytics to provide innovative solutions for property valuation and insurance underwriting
Accelerating and simplifying the insurance process
Generali subscribes to the new service
DENVER, Sept. 28, 2022 /PRNewswire/ - Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) ("Intermap" or the "Company"), a global leader in 3D geospatial data and intelligence solutions, today announced a partnership with Deloitte Advisory and Dataligence to provide an innovative solution for calculating real estate prices for insurance.
In the new solution, Intermap's Aquarius RMA service is integrated into Dataligence's Price Map Calculator to provide the Czech market with precise real estate prices. Generali Česká pojišťovna, part of one of the world's largest insurance groups, Generali, is a current subscriber to Intermap's flood risk insurance software and the first subscriber to this new solution. The integration will increase real estate data transparency to meet increasing demand for real estate property valuation and data services. The Price Map Calculator processes the most extensive database of information to accelerate and simplify transactions, providing insurers with accurate property values when underwriting.
"Intermap's European insurance solutions leverage unmatched, proprietary datasets that can be integrated into workflows to provide the market with innovative solutions," said Patrick A. Blott, Intermap's Chairman and CEO. "Our unique capabilities and versatile datasets enable insurers to understand and underwrite peril risk and apply that information in other industries, such as real estate and financial services."
"Accurate property price valuation is key to setting up and negotiating a quality insurance policy," said Jana Flajšarová, Senior Manager of Non-Life Insurance at Generali Česká pojišťovna. "Currently, when market prices of real estate are often volatile, this tool provides clients with a clear and trustworthy guide for setting the correct value insured for home insurance. The largest insurance company on the Czech market subscribed to this innovative solution because of the simplicity it brings to the negotiation process for clients, as well as the robustness of the data used and the overall reliability of the tool. Our goal is to always provide our clients with highly professional service, and this solution takes us significantly forward in our efforts."
"We are always happy to find new utilizations for our first-class price and real estate datasets," said Milan Rocek, founder and CEO of Dataligence. "The latest cooperation with Intermap and Generali embodies our vision of how having the proper data helps to digitize and facilitate processes in various industries. The implemented solution will speed up our partners' workflow and, more importantly, benefit the end clients, who can rest assured that their property is always insured at the correct amount."
In the first half of 2022, Intermap's monthly recurring revenue for insurance solutions in Europe grew by 34%. The Company's insurance revenue in the region continues to grow through building new customer relationships and expanding existing contracts.
Learn more about Intermap's European offerings at intermap.com/european-solutions.
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.
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: 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.
The Trigema investment group recently bought a majority stake in CenovaMapa.org, creating the largest real estate data platform on the Czech market. CenovaMapa.org was simultaneously rebranded to become Dataligence. Over the past few years, Dataligence, with the use of Deloitte consulting, became the top data provider for online property valuations in the Czech Republic. Under its new name and ownership, Dataligence will continue operations, becoming the most extensive source of data for the Czech real estate market.
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SOURCE Intermap Technologies Corporation