Saturday, June 22, 2024

Intermap Partners with Generali Romania for Advanced Flood Risk Assessment Solution

Intermap Technologies, a global leader in 3D geospatial data and intelligence solutions, today announced Generali Romania is expanding its risk assessment capabilities by incorporating Intermap’s Aquarius RMA (“Aquarius”) flood risk solution into its core insurance processes.

Generali Romania leverages flood maps that are produced using Intermap’s high-resolution digital terrain models, hydrology data and comprehensive information from the National Institute of Hydrology and Water Management of Romania. The flood hazard maps cover more than 90,000km along rivers. It includes boundaries for 20-year, 100-year and 500-year flood extents, as well as maps of maximum flood depth for each of the periods.

“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 counseling and prevention solutions,” said Ales Tausche, Chief Insurance Officer, Generali Romania.

“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,” commented Patrick Blott, Intermap Chairman and CEO. “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.”

Intermap’s Aquarius solution is a cloud-based flood risk assessment software that greatly simplifies the access to critical datasets and advanced tools and is customizable to meet different specific customer needs. The Company’s software solution is composed of multiple analytics and geocoding capabilities, providing Generali Romania with a comprehensive picture of the possible flood risk in specific areas and estimated volume of claims and length of service interruption in affected areas. The datasets are continually updated to ensure customers have the latest information in the areas where they operate. 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.

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