delivering value beyond compliance

through data, technology and a strategic approach
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Bring DDO to life in a meaningful, workable and efficient manner

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DDO Launch Day!

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Wattletree was created to address key requirements born from the imminent Design and Distribution Obligations (DDO) regulations which will come into effect for the Australia financial services and product industry on 5 October 2021.

Extracting data from platforms, dealer groups, unit registries and other sources, Wattletree collates and appends data with demographic information in order to deliver quarterly reports showing the TMD characteristics of a product against the population characteristics for that product. 

We believe that this combination of technology capability and industry IP is key to successfully delivering DDO and the FSC (and the wider industry).

Performance Analysis

Wattletree will deliver quarterly reports that demonstrate whether or not the TMD is being met for each product, cut by distributor and other relevant information.

Our Data Technology

We are able to do this by using a combination of first party (owned customer data), ABS and geo-demographic information to append customer records and thereby create a view of the ‘class’ of consumers in each product.

Roadmap and Planning

This approach allows for distributors (such as platforms) to enter their data once, and we will deliver product issuers (and distributors) a full view of their consumers.

OUR UNIQUE APPROACH

How it works

We provide trend information and breakdown by distributor / AFSL / broker / etc. so issuers will be alerted if there are any significant differences between distributors or if a significant dealing is on the horizon.

TIME FRAME

Wattletree is the next generation of an existing Marketsoft solution - Lemontree - so we're able to build the full solution well within the timeframe, reducing risk and delivering you quality reporting.

A Scalable Approach

We are currently offering early adopter pricing at a subsidised rate, to ensure you're ready by the 5th October deadline.

The production model will differentiate between issuers and distributors, whilst also recognising the relative complexity for a given customer based on number of products, product definitions and number of end customers.

THE MECHANICS

We use a combination of first-party (owned customer data), ABS, and geo-demographic information to append customer records and thereby create a view of the ‘class’ of consumers in each product.

18 weeks to DDO-day (5 October 2021)

Data trusts are the new black. I chaired a session at the ASFA Spotlight on Insurance last week. Real live people. In a room. Talking about insurance… Except mostly we were talking about data. The ‘big idea’ of the day was data trusts. Turns out, Wattletree is a data...

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19 weeks to DDO-day (5 October 2021)

What surprises are hiding in your data? Have you ever wondered who your end clients actually are? Are they all ‘45-65 upper middle class’ types (aka typical financial planning clients)? Or is there a wider spread? Or even a couple of distinct subsets. Today, we’re...

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20 weeks to DDO-day (5 October 2021)

What if your steps are ALREADY reasonable? Today, a question for you. What if your current marketing and distribution arrangements are in fact delivering the right clients to you? There’s so much focus on ‘building’ reasonable steps, that I feel like we’ve all...

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about us

A Team Of Professionals

SARAH PENN

MAYFLOWER CONSULTING FOUNDER AND CEO

With a strategic approach and extensive project management skills, Mayflower will support you to grow your business with confidence.

dan cummins

MARKETSOFT SERVICES CEO

Helping businesses leverage their number one asset: their customer data - for over 30+ years.

Frequently Asked Questions

Geo-demographics is the analysis of people based on where they live. It’s a tried and tested approach that has been around for the best part of 40 years. The power of geo-demographics rests on two key principles.

The first, is people living in the same neighbourhood are more likely to be similar to one another than two people chosen at random. The second principle is that areas can be segmented on the profiles of their residents. This allows geo-demographic segmentation to infer the characteristics and behaviour patterns of the residents in each area.

Wattletree uses a combination of geo-demographics, any available data points (for instance salary if for an income protection insurance policy) plus purchasing behaviour to create a record for each customer and therefore an overall view of the customers who hold each product. As more companies use Wattletree, the richness of the available insights will increase due to both more data points as well as our ability to build more complex predictive models.

Privacy protection is a fundamental part of our business. This includes how we hold, collect, and use information. We are committed to maintaining the highest standards of data integrity and security, and maintain a variety of safeguards that we update and test on an ongoing basis.

Wattletree utilises a range of data sets and data points to identify vulnerable customers. We use geodemographic data as a baseline to identify groups within our community that may fall into a vulnerable category. And then leverage personal information, as well as other consumer attributes like age, occupation, employment status, etc in conjunction with product holdings, to determine the likely vulnerable customers.

We believe so. Each issuer and distributor has their own privacy policy, which includes ‘uses’ of customer data. These often cover research, product development and “to comply with our legal obligations” or similar wording. We believe that this allows Wattletree to be provided with client information in order to deliver the service. Of course, each company needs to make their own assessment on this front, we’re not lawyers!

Wattletree utilises a geodemographic data universe, supplied and built by Marketsoft. The data pool contains both government and private data sources collected and built over many years. The data is maintained and regularly updated for use by Wattletree and other Marketsoft services.

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