Charmian Holmes and Julie Hartley from Hamilton Locke co-presented this webinar on discretionary mutuals.
About this event:
Discretionary mutuals are becoming increasingly popular because they are more flexible and allow for innovation. They are the ultimate form of peer-to-peer risk sharing. A number of Insurtech Australia members are very active in this space and they deliver better solutions to stakeholder groups with complex risk needs that are not well served by traditional insurance, while allowing easier access to reinsurance markets.
Aside from delivering cost savings and flexibility, they give the group autonomy and freedom to build and deliver tailored risk solutions and there are tax advantages to using them. They do require a financial services authorisation and there are other laws and regulations that apply, but if they are feasible for the group they provide a very powerful, member-centric way of delivering risk protection.
Charmian and Julie provided an overview of discretionary mutuals and shared real-life case study examples to demonstrate how they can be used as an innovative solution. This member-only session was useful in helping to understand:
– What discretionary mutuals are;
– How they can be used to provide innovative risk solutions;
– The regulatory environment in which they operate; and
– What is involved in establishing and managing them.
This session was conducted via MS Teams.
Insurtech Australia members and partners can access a recording of the webinar here.