Intermap Technologies, a leader in 3D geospatial products and intelligence solutions, has announced that multiple European insurers have agreed to expand their five-year contracts with an aggregate additional value of over $1.3 million.
The $1.3 million value will be used for Intermap’s flood risk software, geocoding analytics, and a new generation of precision flood hazard maps for Slovakia.
So far $700,000 of the new contracts have been signed, $600,000 has been awarded and is being finalized.
“We’re pleased to see our solutions spread across Europe. Intermap’s global insurance solutions leverage unmatched datasets and global consistency, delivering rapid updates anywhere in the world,” said Patrick A. Blott, Intermap Chairman and CEO.
“Our data and analytics enable insurers to provide insurance coverage that reflects current flood risk, empowering insurance companies to optimize flood risk assessment with the same confidence in all countries where they operate. With the increase in demand for our flood hazard maps across Eastern Europe, we expect further geographic expansion to other countries around the world.”