Intermap Technologies has announced Generali Romania is expanding its risk assessment capabilities by incorporating Intermap’s Aquarius RMA (Aquarius) cloud-based flood risk solution into its core insurance processes.
The Aquarius software solution is composed of multiple analytics and geocoding capabilities which will provide Generali Romania with a comprehensive picture of the possible flood risk in specific areas, estimating the volume of claims and length of service interruption in affected areas.
Ales Tausche, Chief Insurance Officer, Generali Romania, commented on the partnership, “Generali Romania is one of the leaders of the housing and corporate insurance segments and we are now able to optimize our flood risk evaluation resources through a pioneering collaboration in the Romanian market.”
“This is an important step for making insurance coverage reflect the real-time flood risk as well as to help our clients through better risk counselling and prevention solutions.”
Patrick Blott, Intermap Chairman and CEO, said, “With historic flooding from Pakistan to Mississippi, record wildfires from Greece to California, and catastrophic drought exacerbated by extreme heat waves around the world, climate resilience efforts are urgent.”
“Intermap’s global solutions leverage its unmatched, proprietary datasets, global consistency and precision, and speed delivering high-resolution, rapid updates anywhere in the world.”
“These unique capabilities enable insurers across multiple regions to understand and underwrite peril risk anywhere on Earth.”
The datasets are continually updated to ensure customers have the latest information in the areas where they operate, says Intermap. This enables customers to optimize several areas of the insurance process, from primary underwriting, risk engineering, product methodology and development, to actuarial science, claims and reinsurance.