Risk Management for European Insurance Industry

Specifically, the underwriting toolkit supports property-specific underwriting while the accumulation toolkit allows for portfolio-based accumulation control for either single risk or larger multiple risk portfolios. Built on detailed and consistent nation-wide hazard maps, both applications focus on enabling the reliable assessment and analysis of flood risks associated with fluvial (river), pluvial (heavy rain), and coastal (tidal) threats. Where applicable, the Company's NEXTMap Europe elevation data is combined with sophisticated modeling techniques to provide the most consistent national flood hazard maps available.

"The use of precise and uniform datasets in the insurance industry has never been more important," said Dr. Manfred Krischke, vice president of Intermap's risk management division and managing director of Intermap GmbH. "Severe seasonal flooding throughout Europe, once again this year, has driven home the need for improved geospatially accurate risk management products that enable the insurance industry to reliably assess flood risk in the region. This is evidenced by the fact that the demand for flood risk reports provided by our current flood modeling application, residing on the Czech Insurance Association's Web site, increased significantly - exceeding 13,000 risk reports over a two day period - during that country's recent flood event. The market demand and successes, from consumers and the insurance industry, is proving that reliable assessment tools and advanced knowledge of potential threats have the capability of saving a vast sum of money for its users."

Target markets for this highly-reliable risk assessment portal include primary insurers and primary insurance brokers engaged in property-specific underwriting and portfolio-based risk management. A key advantage for these users is that they can quickly access critical information and calculations directly from their desktops without incurring the cost of integrating data management software within their in-house network infrastructure.

Intermap plans to expand the availability of its risk assessment portal to other European countries as demand dictates.