Insurance News and Picnic Labs invite readers to attend an insightful webinar examining risk protection offered by discretionary mutuals. 

The free Alternative Risk Transfer – Debunking the Myths About Insurance Alternatives webinar, to be held at noon on Thursday September 26, will feature Picnic CEO Charles Pollack and chief actuary Simone Collins, who both previously held senior actuarial positions at Youi.

Picnic Labs helps industry, organisations, associations and communities with discretionary mutuals and other insurance alternatives.

“We design, operate and support discretionary mutuals as alternative risk transfer structures for groups that are seeking a way to come together to find an alternative,” Mr Pollack said. 

“We also find innovative ways to create or access products, whether they are risk protection or insurance.”

Moderated by Insurance News editor-in-chief John Deex, the webinar will also feature a broker, who will share his experience integrating Picnic solutions for clients. 

A discretionary mutual is a public company limited by guarantee that is collectively owned by its customers. It has a board of directors, including member representatives, that presides over claims.

Sydney-based Picnic supports six mutuals in Australia, New Zealand and Britain, which all have products tailored to members.

It began offering cyclone cover to members of the Our Ark mutual it manages in October, and Ms Collins will take attendees through that case study during the webinar.

A discretionary mutual Picnic launched in February providing risk protection to a large consortium of retailers saved group members about 25% compared with their previous solution. 

Picnic’s team of 17 includes staff members in Queensland, NSW, Victoria and WA. 

Register for the 45-minute webinar here.