The earliest forms of insurance were a way to share risk and retain value within a community.
In the 3rd and 2nd millennia BC, Chinese merchants jointly distributed wares across many vessels to limit their losses. This benefited all merchants and their local community.
This ethos, of shared risk management and mutual benefit, underpins the mutuals and other structures Picnic designs.
> The truth is, if DMFs were only about hard markets or hard to place risks, then the mutual would not be sustainable.
> There is also often confusion that a DMF is a discretionary trust. They are two very different legal and operating structures. Learn more >
> Successful DMFs are the result of detailed risk pricing, appropriate capital adequacy, precise reinsurance programs, innovative policy wording and, professional operations & governance.
Our flexible, co-design approach ensures that each Mutual operates for the benefits of its Members, and achieves long-term success.
Picnic's team of insurance and risk transfer experts collaboratively design solutions and products directly with customers, communities, associations and industries, and with the brokers, risk managers and other professional services that support them.
We will work with you to determine what's possible, whether that's joining and existing DMF or creating a new one.
Our Ark is a DMF that provides property, contents, equipment and business interruption risk protection to organisations at the heart of local communities across Australia. Cyclone Insurance is also offered to eligible members.
Launched in December 2020 with a single member, in 3 years it's protecting more than 90 members and $2.3 billion in assets.
A broker with an established relationship with a retail group was seeking an alternative to insurance to protect buildings, contents and business interruption.
Working with the broker & their client, Picnic designed a Mutual with purpose-designed risk protection products. Cyclone Insurance is also available to eligible Members.
Turo is the world's largest car sharing marketplace.
Launched in Australia in November 2022, the Turo Travels Mutual provides protection for both guests & hosts for every trip.
This is an example of how a DMF supports a product and can be embedded into an enterprise ecommerce offering.
Working with a major global brand, Picnic was engaged to manage its DMF for its Australian business operations in 2023.
Prior to engaging Picnic, the DMF had been managed in-house.
This Mutual forms a vital part of the platform's operations in Australia.
A large global organisation offers a wide range of risk protection products across New Zealand, Australia, and the UK.
Picnic manages the DMF in these countries.
The flexible, sophisticated system enables the organisation to actively compete and grow its global footprint.
Our Guard is a DMF designed for the Customer Owned Banking community in Australia, to provide financial lines solutions and options for Directors & Officers, Professional Indemnity and Fraud.
The solutions were designed with the industry.
The DMF is designed to enable future opportunities to expand the product lines.
