Audits and External Reviews

In some cases, external parties may review WeatherIt's distribution arrangements. This page explains what these reviews involve and what partners may be asked to support.

Who May Conduct External Reviews

flowchart TB
 subgraph External["External Reviewers"]
 direction LR
 A["Underwriters<br/>(MSI)"]
 B["Regulators<br/>(ASIC, APRA)"]
 C["External<br/>Auditors"]
 end

 style A fill:#e1f5ff
 style B fill:#f3e5f5
 style C fill:#fff4e1

Review Parties

Party	Focus	Frequency
Underwriters (MSI)	Product design and distribution effectiveness	Periodic
Regulators (ASIC)	Consumer protection and compliance	As required
External Auditors	Governance controls and processes	Annual or as needed

What Gets Reviewed

External reviews may examine:

flowchart LR
 subgraph Reviews["Review Areas"]
 direction TB
 A["Product<br/>Design"]
 B["Distribution<br/>Arrangements"]
 C["Governance<br/>Controls"]
 end

 style A fill:#e8f5e9
 style B fill:#e8f5e9
 style C fill:#e8f5e9

Area	Examples
Product design	Coverage terms, trigger mechanisms, pricing
Distribution arrangements	Partner agreements, distribution channels, training
Governance controls	Complaint handling, escalation processes, oversight

Partner Involvement

Partners Don't Engage Directly
Partners are not expected to engage directly with regulators. WeatherIt coordinates all such engagements and acts as the primary point of contact.

What Partners May Be Asked to Support

However, partners may be asked to:

Request	Example
Confirm practices	Verify how WeatherIt is presented
Provide supporting information	Supply examples of customer communications
Participate in process reviews	Walk through operational procedures

flowchart LR
 A[External<br/>Review] --> B[WeatherIt<br/>Coordinates]
 B --> C{Partner<br/>Involvement?}
 C -->|Yes| D[Confirm Practices]
 C -->|Yes| E[Provide Information]
 C -->|Yes| F[Process Review]
 C -->|No| G[No Action Required]

 style A fill:#f3e5f5
 style B fill:#e1f5ff
 style C fill:#fff4e1
 style D fill:#e8f5e9
 style E fill:#e8f5e9
 style F fill:#e8f5e9
 style G fill:#e8f5e9

How WeatherIt Supports Partners

WeatherIt will:

Coordinate All Engagements

Act as primary contact with external parties
Manage information requests
Represent the distribution network

Prepare Partners When Needed

Provide advance notice of any partner involvement
Supply context and background
Offer guidance on what's expected

Protect Partner Interests

Ensure requests are proportionate
Minimise disruption to operations
Handle sensitive information appropriately

Typical Partner Involvement

In most cases, partner involvement is minimal:

Scenario	Typical Partner Role
Underwriter review	Provide operational information if requested
Regulatory enquiry	No direct involvement
External audit	Confirm processes if asked

WeatherIt Takes the Lead
WeatherIt manages external relationships and compliance obligations. Partners are supported, not burdened.

External reviews are part of operating in a regulated industry. WeatherIt manages these relationships so partners can focus on their core business.