Intermap Technologies, a global leader in geospatial content development and intelligence solutions, announced two subscriptions to its European cloud-based risk solution. The demand for the Company’s Aquarius solution is increasing in the fast-growing insurance and real estate industries.
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Intermap is pleased to expand its relationship with Generali Group by adding Romania to the existing Aquarius RMA (Aquarius) subscription. As a cloud-based flood risk solution, Aquarius enables consistent underwriting for an entire portfolio life cycle for any location. Romania represents Aquarius’ fourth CEE country, where Generali is ranked among the top three most trusted insurance brands. This new subscription enables Generali to grow its premium with customized and precise flood hazard maps and analytics.
The Company also reported that MyNEMO renewed its subscription to Intermap’s flood risk web services to support real estate transactions in the Czech Republic. In addition, MyNEMO is preparing to offer these services to other CEE countries.
Intermap continues to expand its European software subscription services beyond the insurance market by adding new functionality to its comprehensive solution suite. The Company’s European software subscription revenue has increased by 2.5 times since introducing the cloud-based version of Aquarius in 2020 and continues to grow as these expanded solutions are delivered to new and existing clients. The addition of Romania increases the Aquarius subscription monthly recurring revenue by 10%.
“Our strategy of penetrating deeper into our largest accounts by helping them grow their business is working,” said Patrick A. Blott, Intermap Chairman and CEO. “We’re enabling them to scale globally and save money by providing actionable GEOINT in a turnkey, easy-to-use software and enterprise data management solution. From a standing start in 2019, our cloud-based subscriptions in CEE now account for 72% of CEE revenue, which in turn has grown 19% year over year to become 19% of Intermap’s total commercial revenue.”
To learn more about Intermap’s European services, visit www.intermap.com/european-solutions.
Certain information provided in this news release constitutes forward-looking statements. The words “anticipate”, “expect”, “project”, “estimate”, “forecast”, “will be”, “will consider”, “intends” and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected.