Unwinding corporatised insurance.

Picnic Timeline

2016

NOVEMBER

PICNIC FOUNDED

A terrible claims experience in 2015, a lack of innovation in insurance and the opportunity to decentralise brought on by blockchain sparks an idea to reinvent full-stack insurance.

2017

FEBRUARY

CUSTOMER PAIN VALIDATED

Hypothesis confirmed and pain points documented with 1,000+ detailed surveys, 1-on-1 interviews and test marketing 20,000 Facebook users.

2017

MARCH

REGULATORY FRAMEWORK DEVELOPED

Legal and regulatory options paper commissioned, allowing development of a detailed licensing framework which meets customer and regulator expectations of a responsible insurer and lays the foundation for decentralised insurance.

2017

JUNE

INSURANCE PRODUCTS DEVELOPED

Simple, fair and transparent insurance policies are designed and developed, including underwriting methodologies and structures for home, motor and contents insurance products.

2017

OCTOBER

UI PROTOTYPE TESTED

Developed and tested non-functioning prototypes with potential investors and customers, resulting in a clear UI/UX path.

2017

NOVEMBER

LICENCE APPLICATION COMMENCED

Licence application process commenced for Australian GI insurance licence with informal discussions commenced for UK and the European Union.

2018

JULY

SUPPORTER REGISTRATION COMMENCES

Registration allows initial supporters to complete KYC, AML & institutional investor checks to register for the institutional offer.

2018

Q4

MOBILISE AUSTRALIAN OPERATIONS TEAM

Mobilise operations infrastructure and team recruitment and training for delivering an exceptional customer experience.

2018

Q4

COMPLETE TECHNOLOGY DEVELOPMENT

Picnic’s insurance policy administration and management systems are complete, with testing and deployment. This is the template for multiple international markets.

2019

FIRST HALF

LICENSING AND LAUNCHING AUSTRALIA

Regulator grants insurance mutual licence, enabling consumers around Australia to benefit from collective insurance with heart.

2019

ONGOING

ROLLING MARKET EXPANSION

Picnic rolling launches will be based on the support received in the security token offer. Timed successive launches minimise pressure on operating markets and ensure continuity of superb customer experience.

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