The Picnic Process for
New Discretionary Mutuals

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The Picnic Process is applied to all new Discretionary Mutual inquiries.
Initial assessments on the right direction for any inquiry is to determine if they could join and existing Discretionary Mutual or, if there is a possibility to launch a new one.

Step 01: Build vs Join

The initial conversations with Picnic will identify if there is an existing Discretionary Mutual that is suitable and is open to new Members.

If it is not a Discretionary Mutual that is managed by Picnic, we can arrange an introduction.  

If initial high-level data, problem, or circumstance parameters indicate a new Discretionary Mutual is both suitable and viable, a consulting statement of work for the co-design phase will be issued. If an existing Discretionary Mutual is more suitable, this will be explained and an introduction made, if requested.

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The Picnic Process Co-Design phase is a series of workshops with the instigator of a new Discretionary Mutual to ensure the suitability of all products and the long-term viability of the Mutual.

Step 02: Validate

This detailed design process is undertaken through a series of co-design workshops to:
- Determine the suitability of a Discretionary Mutual.
- Define the right Approach.
- Define the Member profile, benefits, size & location.
- Map the product launch roadmap.
- Identify potential Board directors.
- Identify options for claims handling process/providers.
- Identify member risk management expectations and mitigation providers.
- Indicate the amount of Mutual Capital Instrument funding required to launch. (What is this?)

A draft business plan is delivered to enable the instigator to make a go/no-go decision.

Step 03: Build

This is an intensive period of work to:
- Create launch product wordings.
- Determine reinsurance structure + seek reinsurer support.
- Define brand, growth, product roadmap.
- Create MCI structures and associated documentation.
- Agree operational processes & management tasks.
- Formalise entities and structures
- Appoint the Board and establish governance framework, meetings and claims process
- Formalise contracts for management, reinsurance and other service providers
- Open bank accounts for the placement of MCI investments.

The instigator is engaged through this period to validate, support and agree next steps.

Step 04: Launch

This is an intensive period of work to:
- Formalise legal sign offs
- Obtain Board sign offs
- Finalise marketing & communication activities
- Testing of systems ahead of go-live.
- Onboard first Members.

The instigator is actively involved thoughout the launch stage of the process.

Step 05: Operate

The operating mode and management of the Mutual is determined in the Validate and Build phases and formalised via contracts in the Launch phase.

It may vary between each Mutual based upon the needs of the Community and the capabilities of the instigator.

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Picnic acknowledges the Traditional Custodians of the land on which we work, live, and gather as employees, and recognise their continuing connection to land, water and community. We pay respect to Elders past and present.
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(c) 2025 Picnic Labs Limited. All rights reserved.
Picnic Labs Limited (ACN 627 271 596) offers consulting and management services to discretionary mutuals through Picnic group companies. Picnic Labs Limited is also registered in England and Wales (UK Est No BRO21440, Company No FC036352). Financial services provided in Australia including advice and issuing discretionary mutual risk protection products and insurance products is regulated by ASIC. Picnic Licensing Pty Ltd (ACN 647 642 117) provides financial services in Australia under AFS Licence No: 532540. Insurance products issued to members of Australian domiciled mutuals are distributed by companies in the PICNIC group and in some cases those companies act as agent of the insurer. Those companies including Picnic Underwriting Pty Ltd (ACN 645 249 109, AR No. 1304757), Picnic Distribution Pty Ltd (ACN 652 925 294, AR No. 13000250), Picnic Services Pty Ltd (ACN 638 145 418, AR No. 1300248) and Picnic Broking Pty Ltd (ACN 676 640 341 AR No. 1308931) are authorised representatives of Picnic Licensing Pty Ltd. Any advice given in relation to discretionary mutual protection products or general insurance products is general in nature and does not take account of your personal circumstances, needs or financial situation. Where a Product Disclosure Statement, Financial Services Guide and Target Market Determination is available, please consider those documents prior to making decision or acquire or hold a financial product. Copies of those documents can be obtained from Picnic or from the relevant manager of the mutual.