Insurance is becoming increasingly conflicted, unaffordable & unavailable. Characterised by increasing premiums, small print exclusions, worsening claims experiences & a continual focus on maximising shareholder returns at the expense of customers.
$39 billion paid to insurance company shareholders in the past 10 years in Australia. Redistribute this value through a model that shares all insurance profit with customers.
Picnic's Platform-as-a-Service, enables the creation, support & operation of digital self-insurance pools. Customers (as Members) own the Pool & all profits are reinvested back in the Pool to build strength & reduce future premiums.
We’re returning the right business model to insurance and risk protection – one where members are always at the heart. A Picnic Self-Insurance Pool allows Members to benefit from keeping all the profit from self-insuring & the power of reinsurance group buying combined with aggregated risk diversification. The pool pays for smaller losses and reinsurance is in place to cover large losses.
Reinsurance layer: Excess of Loss cover (per claim & per event), Pro-rata cover & Stop Loss cover.
Global, highly rated reinsurers.
Mutual retained layer: Claims cost to reinsurance cover point. Surplus funds retained for the benefit of members.
Member retained layer: Customised for each member.
Meet the team behind Picnic Labs.