Main shoppers renew and enhance subscription dimension
Firm expects continued development within the quantity and worth of subscriptions in 2023
DENVER, March 02, 2023 (GLOBE NEWSWIRE) — Intermap Applied sciences (TSX: IMP; OTCQX: ITMSF) (“Intermap” or the “Firm”), a worldwide chief in 3D geospatial merchandise and intelligence options, as we speak introduced continued development of its North American insurance coverage software program enterprise with sturdy renewals and upsells of InsitePro® subscriptions.
InsitePro is a Software program as a Service package deal that delivers property-specific underwriting analytics for flood insurance coverage anyplace within the U.S. and Canada. The Firm elevated its InsitePro bookings in 2022 by 61% in contrast with 2021. InsitePro’s buyer base consists of a number of top-10 U.S. insurers and syndicates at Lloyd’s of London.
Up to now three months, InsitePro subscribers have renewed multiyear subscriptions early with will increase starting from 60% to 350% as development explodes with the rising business consciousness and adoption of elevation knowledge and geospatial analytics as a service. Intermap’s InsitePro year-to-date bookings for 2023 are 32% above final 12 months’s numbers for a similar interval.
“InsitePro is off to a powerful begin in 2023, pushed by insurance coverage losses throughout the U.S. over the previous 12 months,” stated Patrick A. Blott, Intermap Chairman and CEO. “InsitePro delivers essential geospatial know-how that has a confirmed means to supply underwriters the required threat and pricing data to construct portfolios of enterprise which might be resilient to the varieties of catastrophic water occasions we’re seeing extra incessantly. Insurance coverage is a essential part of society’s resilience to flood, and InsitePro helps construct that resilience with the required knowledge and experience.”
Study extra about Intermap’s insurance coverage options and InsitePro at intermap.com/insurance
Intermap Reader Advisory
Sure data offered on this information launch, together with reference to income development, constitutes forward-looking statements. The phrases “anticipate”, “count on”, “venture”, “estimate”, “forecast”, “can be”, “will take into account”, “intends” and comparable expressions are meant to determine such forward-looking statements. Though Intermap believes that these statements are based mostly on data and assumptions that are present, cheap and full, these statements are essentially topic to a wide range of recognized and unknown dangers and uncertainties. Intermap’s forward-looking statements are topic to dangers and uncertainties pertaining to, amongst different issues, money obtainable to fund operations, availability of capital, income fluctuations, nature of presidency contracts, financial situations, lack of key prospects, retention and availability of govt expertise, competing applied sciences, frequent share worth volatility, lack of proprietary data, software program performance, web and system infrastructure performance, data know-how safety, breakdown of strategic alliances, and worldwide and political concerns, in addition to these dangers and uncertainties mentioned Intermap’s Annual Info Type and different securities filings. Whereas the Firm makes these forward-looking statements in good religion, ought to a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes could fluctuate considerably from these anticipated. Accordingly, no assurances might be provided that any of the occasions anticipated by the forward-looking statements will transpire or happen, or if any of them achieve this, what advantages that the Firm will derive therefrom. All subsequent forward-looking statements, whether or not written or oral, attributable to Intermap or individuals performing on its behalf are expressly certified of their entirety by these cautionary statements. The forward-looking statements contained on this information launch are made as on the date of this information launch and the Firm doesn’t undertake any obligation to replace publicly or to revise any of the forward-looking statements made herein, whether or not because of new data, future occasions or in any other case, besides as could also be required by relevant securities legislation.
About Intermap Applied sciences
Based in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a worldwide chief in geospatial intelligence options, specializing in the creation and evaluation of 3D terrain knowledge to supply high-resolution thematic fashions. By way of scientific evaluation of geospatial data and patented sensors and processing know-how, the Firm provisions various, complementary, multi-source datasets to allow prospects to seamlessly combine geospatial intelligence into their workflows. Intermap’s 3D elevation knowledge and software program analytic capabilities allow world geospatial evaluation by way of synthetic intelligence and machine studying, offering prospects with essential data to know their terrain setting. By leveraging its proprietary archive of the world’s largest assortment of multi-sensor world elevation knowledge, the Firm’s assortment and processing capabilities present multi-source 3D datasets and analytics at mission pace, enabling governments and corporations to construct and combine geospatial basis knowledge with actionable insights. Purposes for Intermap’s merchandise and options embrace protection, aviation and UAV flight planning, flood and wildfire insurance coverage, catastrophe mitigation, base mapping, environmental and renewable vitality planning, telecommunications, engineering, essential infrastructure monitoring, hydrology, land administration, oil and fuel and transportation.
For extra data, please go to www.intermap.com or contact:
Jennifer Bakken
Govt Vice President and CFO
[email protected]
+1 (303) 708-0955
