DENVER, CO, March 25, 2015 /PRNewswire/ - Intermap
Technologies (TSX:IMP), (ITMSF:BB), a leading provider of
location-based solutions, today released a new version of
InsitePro, a SaaS product that delivers location-based risk
assessments to the property insurance industry.
The centerpiece of this release is powerful risk scoring
functionality. Risk scoring provides a more complete view of
location-based risk than a simple flood or earthquake zone can,
allowing InsitePro to automate complex risk assessment for
underwriters. Typical uses of the risk score function include:
- Selection: deciding which properties to underwrite based
on quantified risk.
- Pricing: matching premium to a better understanding of
risk.
- Flood model validation: using terrain features to
confirm the accuracy of flood zones.
- Multi-peril analysis: developing a combined view of risk
for a location.
InsitePro's risk scoring allows users to combine flood and other
perils, along with Intermap's proprietary terrain data and the
users own information — such as claims history and accumulation —
to deliver location-specific scores that are based on the best
information available.
"The natural catastrophe models used by risk software all
contain an element of uncertainty," explained InsitePro Product
Manager Ivan Maddox. "Risk scoring
is a way to decrease uncertainty at a specific location, which
equates to lower costs for carriers and brokers."
Insurers underwriting flood can combine multiple flood models
with heights above river levels and their own loss histories to
create a single score based on the most relevant and complete
information available to them. Those responsible for risk
accumulation and reinsurance can create scores based on custom
accumulation zones and policy information to understand exposure.
Combining location risk with exposure creates powerful customized
aggressiveness measurement that can drive pricing. Properties
exposed to multiple perils, such as flood, earthquake, or wildfire,
can be scored to aggregate the different perils into a single risk
score.
Risk Scoring is available now with InsitePro. For more
information, please visit
http://www.intermap.com/software/insitepro.
About Intermap Technologies
Headquartered in Denver, Colorado,
Intermap Technologies is an industry leader in geospatial solutions
on demand with its secure, cloud-based Orion
Platform®. Through its powerful suite of
software applications and proprietary development of contiguous
databases that fuse volumes of geospatial data into a single
source, the Orion Platform is able to provide location-based
solutions for customers in diverse markets around the world. For
more information please visit www.intermap.com.
SOURCE Intermap Technologies Corporation