Intermap Technologies Reports Solid Growth in Insurance Sector
Intermap Technologies Reports Solid Growth in Insurance Sector
Intermap Technologies, known for its advancements in 3D geospatial intelligence solutions, has kicked off 2025 with remarkable success in its insurance segment, achieving awards exceeding $1.1 million. This notable accomplishment is attributed to new client subscriptions and key renewal contracts.
Strategic Partnerships Drive Growth
The onset of the year has brought significant opportunities for Intermap as the company secures two new strategic partnerships with major insurance clients. These collaborative efforts exemplify Intermap's commitment to enhancing risk assessment and offering cutting-edge solutions to the insurance industry.
Innovative Solutions for Natural Hazards
One of the standout collaborations is with a large, multiyear subscription agreement made with a prominent bank-insurance conglomerate operating across multiple European countries. This partnership highlights the adoption of Intermap's state-of-the-art Aquarius RMA solution, specifically designed to assess risks related to natural hazards and climate change impacts. With the use of artificial intelligence and continuously updated 3D terrain data, Intermap delivers precise risk assessments that guide insurance processes from underwriting through to claims management. This empowers insurance firms to implement innovative, data-driven strategies to address climate and sustainability challenges effectively.
Enhancing Underwriting Precision
Another significant partnership has emerged with PREMIUM Insurance Company Limited, which has integrated Intermap's advanced natural hazard solutions into its operations. This collaboration is vital for improving flood risk management, allowing homeowners and businesses to make informed decisions regarding their insurance coverage.
Marek Benko, a member of PREMIUM Insurance’s Board of Directors, emphasized the importance of high-quality flood maps and robust risk assessments for property insurance in the Czech Republic and Slovakia, stating that leveraging Intermap’s advanced mapping tools enhances their underwriting accuracy and trust with reinsurers.
Growing Demand for Geospatial Solutions
Patrick A. Blott, Intermap's Chairman and CEO, noted a notable increase in demand for their geospatial applications, which has driven record revenue early in the year. The uniqueness of Intermap's data products fosters a loyal subscriber base with minimal churn. He added, "Insurance companies are increasingly utilizing 3D geospatial data to improve their risk assessments and unveil property vulnerabilities to risks like floods or wildfires. Our NEXTMap solution embodies the integration of artificial intelligence and machine learning, enabling the creation of globally accessible digital elevation models with exceptional precision, ultimately facilitating data-driven decision-making for our clients across various sectors."
Upcoming Financial Results Announcement
As the company continues to build on its momentum, it is poised to announce its fourth quarter and full year results, with a live conference call scheduled for March 27, 2025. During this event, executives will share insights on the company’s performance and updates, providing an open forum for investor questions.
Conference Call Details
Date and Time
The live webinar is set for March 27, 2025, at 5:00 PM ET.
How to Participate
Investors and stakeholders can register to participate in this important call, where Intermap will elaborate on its successes and strategies moving forward.
About Intermap Technologies
Established in 1997 and headquartered in Denver, Colorado, Intermap Technologies (TSX: IMP; OTCQB: ITMSF) has emerged as a trailblazer in geospatial intelligence. The company focuses on rigorous scientific analysis and the production of high-resolution 3D terrain data, ensuring a seamless integration of such intelligence into various workflows for its diverse clientele. Intermap’s innovative capabilities in artificial intelligence and machine learning are redefining how governments and businesses understand and utilize geospatial data for critical applications ranging from disaster mitigation to environmental planning.
Frequently Asked Questions
What recent achievements has Intermap Technologies made in 2025?
Intermap has surpassed $1.1 million in awards within its insurance sector due to new client subscriptions and renewals.
How does Intermap support its insurance partners?
Intermap provides innovative geospatial solutions, including the Aquarius RMA solution, for effective risk quantification related to natural hazards and climate change.
What is the significance of the partnership with PREMIUM Insurance?
This partnership allows for enhanced flood risk management in Europe, helping clients make informed decisions based on improved mapping and risk assessment tools.
When will Intermap release its financial results for 2024?
Intermap will announce its fourth quarter and full year 2024 results on March 27, 2025.
How does Intermap's technology improve risk assessments?
By using advanced 3D geospatial data and incorporating artificial intelligence, Intermap enhances the precision of risk assessments related to property vulnerabilities such as floods or wildfires.
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