The BYOCustomer model enables a Sponsoring Organisation or association to define the customers and lead the growth of the Mutual.
The sponsoring organisation may itself, not be a member of the Mutual. Picnic Labs delivers designs and operates the Mutual.
The Members join the Mutual through a relationship, agreement or transaction with the Sponsoring Organisation.
The Sponsoring Organisation may be a commercial entity, association or industry body.
BYOCustomer Mutuals may be branded to reflect the sponsoring organisation, or have a standalone brand.
Picnic Labs designs and operates the Mutual.
The Sponsoring Organisation leads the growth.
The BYOCustomer+ model applies when a few organisations seek to launch an alternative insurance solution.
Those organisations become Foundation Members of the Mutual by purchasing the products to protect themselves.
The Foundation Members want to make the Mutual available to a wider community of like-minded organisations.
For example, other organisations within the same industry, or geographic location.
BYOCustomer+ Mutuals usually have a new, stand alone brand that reflects the purpose and target market.
Picnic Labs designs, operates and grows the Mutual.
The Foundation Members may facilitate growth.
Picnic works with a Sponsoring Organisation or Foundation Member to determine the appropriate path based on the situation, available data and market conditions.
In some instances when validating the situation, it may be that an existing Mutual or other risk transfer solution suitable for a specific organisation exists.
If the suitable solution is a part of the Picnic ecosystem, a quote can be provided. If it is a not part of the Picnic ecosystem, an introduction can be made to the identified solution provider.
New solutions follow a structured process to determine the viability of an alternative risk transfer solution as an alternative to insurance.