Gamma expects to more than double revenues after new deal
Data mapping company agrees contract with insurer as it looks to expand in Britain
Richard Garry, chief commercial officer, Gamma
Data mapping company Gamma is forecasting a more than doubling of revenues after securing a deal with British insurer MGAM.
It said it expects to generate €5.7 million in turnover by 2025 on the back of the deal, which sees it deploying its Perilfinder software solution.
The Dublin-based company recorded revenues of €2.1 million in 2019, the last year for which accounts are publicly available.
Perilfinder provides high-quality data and map visualisation information allowing insurers such as MGAM to ensure more accurate risk assessment in areas such as flood, subsidence and crime.
Gamma, which has invested €2 million in the platform, sees plenty of opportunities in Britain having also partnered with flood risk data specialists Ambiental Risk Analytics last year. Other clients include Ordanance Survey.
The company opened an office in Manchester last year and intends to grow the team there over the coming years as its rolls-out its technology to other companies in Britain and elsewhere.
“The insurance sector faces many challenges including how to access the right data at the right time to allow underwriters to make informed decisions quickly. That is precisely what Perilfinder delivers for MGAM - an insightful, customised platform which provides high-quality data. In turn, this allows the company to enhance its service offering for clients and drive business growth,” said chief commercial officer Richard Garry.