Denver-based Intermap and Boston-based AIR Worldwide have reach an agreement under which the former will provide the latter with high-resolution elevation data to develop new catastrophe models for Europe.
AIR Worldwide will integrate Intermap’s NEXTMap into its catastrophe modeling capabilities, to develop inland flood models.
“As more homes and businesses are constructed in flood-prone locations, insurers need better methods for assessing inland flood risk,” said Jayanta Guin, Ph.D., SVP of research and modeling at AIR Worldwide, in a statement. “We’re pleased to be working with Intermap and incorporating its NEXTMap database to develop a new generation of models that will enable insurers to better underwrite and manage their risk from flooding both on and off floodplain.”
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio