Dublin firm Gamma Location Intelligence projects the launch of its new risk assessment software Perilfinder will generate €3m in new export revenue over the next three years.
Gamma Location Intelligence will also open a new office in 2020 in Manchester and is aiming to increase its headcount by 15 to support this expansion.
The organisation is also planning to invest a further €1m over the next two years on further developing its technology and has agreed a partnership with JBA Risk Management to deliver European flood data through its Perilfinder platform. This will allow Gamma Location Intelligence to roll this solution out to insurance companies across Europe, the Middle East and Africa as well.
“Our aim is to provide game-changing insights to insurance companies and underwriters across the UK and further afield which enable them to make better decisions around location risk”
Perilfinder enables insurance companies to reduce their risk portfolio by better managing accumulation of polices.
The future science of flood defence
The software has been central to the growth plans of the company as a whole. Since the beginning of 2017, Perilfinder has generated significant new business wins and has been a success in the Irish market, helping Gamma Location Intelligence to double its recurring revenue over the same period.
The technology, which can be integrated into customers’ own systems or provided as a web service, allows insurance companies and local government to make more informed decisions around location risk and to lower operational costs. Integrated environmental risk models include those for flood, subsidence, crime and fire.
“Over the past two years, we have enjoyed sustained business growth and Perilfinder has played a pivotal role in this,” explained Feargal O’Neill, CEO of Gamma Location Intelligence.
“We hope to continue its success in Ireland whilst capitalising on the vast opportunities in international markets.”
Established in Dublin in 1993 O’Neill’s company has expanded to become a global provider of information systems, micro-marketing solutions and geographical analysis services.
“Our aim is to provide game-changing insights to insurance companies and underwriters across the UK and further afield which enable them to make better decisions around location risk. By visualising high-quality data and collating it with other sources of information, we can help to support their business and operational objectives.”
Seven of the largest 10 non-life insurance companies in Ireland currently use Gamma Location Intelligence solutions and more than two thirds (67pc) of direct property insurance in Ireland goes through the company.
“As global leaders in flood risk management, we’re delighted to be contributing to Gamma’s world-class Perilfinder insurance platform,” said Simon Waller, managing director of JBA Risk Management. “At JBA, we’re passionate about making leading science useable. Perilfinder enables just that – providing insurers easy access to our market leading European flood risk intelligence.”
Main image: Feargal O’Neill, CEO of Gamma Location Intelligence
Written by John Kennedy (firstname.lastname@example.org)
Published: 31 October, 2019