Germany: Intermap Technologies expanded its insurance risk management suite of products with the introduction of its Web-based risk assessment portal. This new portal includes highly accurate and reliable underwriting and accumulation toolkits that provide users in the United Kingdom, France, Switzerland, and Hungary (available in the Czech Republic and Slovakia by late summer) with real-time around the clock answers to specific issues insurance companies face throughout the risk management process.
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 modelling techniques to provide the most consistent national flood hazard maps available.
Dr. Manfred Krischke, vice president of Intermap’s risk management division and managing director of Intermap GmbH, said, “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 modelling application, residing on the Czech Insurance Association’s Web site, increased significantly. 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.