Intermap Technologies, a locations-based solutions provider based in Englewood, Colorado, reached an agreement with a global reinsurer to license InsitePro software for use in Argentina, Peru, Colombia and Chile.
The adoption of flood insurance throughout South America is increasing, and the InsitePro technology serves the growing demand of insurers.
"Underwriting flood coverage is a location-based decision that depends on accurate integration of geospatial answers and flood risk information," Ivan Maddox, Intermap's InsitePro product manager, said. "Intermap is delivering InsitePro to this global reinsurer to help them transfer their underwriting capabilities to their clients in the Latin American market."
InsitePro puts together more than 30 datasets from NEXTMAP World together with powerful analytics and risk analysis tools. This allows users to better understand flood risks by combining flood models with heights above flood elevation and flow routes from rivers to buildings to help solve specific business problems.
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