Intermap Technologies, a 3D digital mapping and geospatial solutions company, has expanded its insurance risk management suite of products with the launch of web-based risk assessment portal.
The company has said that the new portal includes underwriting and accumulation toolkits that provide users in the UK, 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.
According to the Intermap, 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.
The toolkits built on nation-wide hazard maps, 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 advanced modeling techniques to provide the consistent national flood hazard maps available.
The target markets for this risk assessment portal include primary insurers and primary insurance brokers engaged in property-specific underwriting and portfolio-based risk management. The users can access critical information and calculations directly from their desktops without integrating data management software within their in-house network infrastructure.
Manfred Krischke, vice president of risk management division and managing director of Intermap, said: “The use of precise and uniform datasets in the insurance industry has never been more important. 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.
“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.”