In this issue

The Institute of Cost Accountants of India (ICAI) is a statutory body set up under an Act of Parliament in the year 1959. The Institute as a part of its obligation regulates the profession of Cost and Management Accountancy. The Institute also pursues the vision of cost competitiveness, cost management, efficient use of resources and structured approach to cost accounting as the key drivers of the profession.

The Institute is also successfully publishing its pioneering Journal, ‘The Management Accountant’ since 1966. This Journal is being published keeping in mind the needs of the Cost and Management Accountants (CMA), and provides wide knowledge on the recent developments and changes in the global and national financial scenarios. The wide circulation and inputs from academicians, researchers and industry stalwarts are the keys to the success of this journal.

Micro-Insurance: Role And Issues During The Covid-19 Crisis

This paper analyses the role that micro-insurance can potentially play in reducing economic vulnerabilities of lower income households during the COVID-19 pandemic. It uses a theoretical framework derived from studying relevant literature on the subject. The framework was used to identify ways in which various shocks exacerbate economic vulnerabilities of the poor and perpetuate their poverty. It also formed the basis for understanding how microinsurance insulates them against such shocks. The paper has found that there are a host of micro-insurance schemes available for shielding the poor against death, disability and crop failures. However issues such as financial illiteracy and lack of financial inclusion continue to remain as hindrances.

9 mins

AUTOMATED UNDERWRITING SOLUTIONS – A DISRUPTIVE INNOVATION IN THE INSURANCE INDUSTRY

Digital transformation has got a major boost from the restrictions imposed by COVID 19. Robotic Process Automation enables Automated Underwriting solutions. It is a disruptive Innovation which has speeded up the processing of new policy proposals and enabled the issue of large number of policies without the historical delays associated with insurance policies.

6 mins

SOCIO-ECONOMIC ACCELERATION DURING CRISIS THROUGH INSURANCE AWARENESS & LITERACY: CUSTOMER SERVICE APPROACH

The cover story of the present paper moves on to examine the different aspects of insurance literacy through education, its needs and applicability; and to evaluate the present status of initiatives taken in this regard for future success in India; because, the socio-economic transformation led to the delegation of responsibility in the financial security of individuals and institutions. Particularly, insurance is one of the financial services, which provide financial security of life and properties of individuals and institutions. There exists a gap in the awareness level of insurance benefits in Indian Society. That is why, insurance education is imperative to enhance the understanding and communication about risk issues which may be protected through insurance.

9 mins

DIGITAL TRANSFORMATION OF HEALTHCARE SERVICES - RECENT INITIATIVES AND ADVANCEMENTS

Background Every single nation, irrespective of stage of development and might of wealth, has been shown a mirror by the unprecedented health emergency caused by Covid-19 Pandemic. It has revealed the blatant picture of healthcare facilities, gaps in infrastructure, inadequacy of care giving professionals, and state of readiness to handle such crises, despite experiencing earlier pandemics like Spanish Flu, Ebola, and Swine Flu. Mankind perhaps has finally understood that pandemic affects richer people faster like lifestyle diseases in large proportion than poor, when any amount of money cannot help arranging the needful treatment.

10+ mins

Read all stories from The Management Accountant

The Management Accountant Magazine Description:

The Institute of Cost Accountants of India (ICAI) is a statutory body set up under an Act of Parliament in the year 1959. The Institute as a part of its obligation regulates the profession of Cost and Management Accountancy. The Institute also pursues the vision of cost competitiveness, cost management, efficient use of resources and structured approach to cost accounting as the key drivers of the profession.

The Institute is also successfully publishing its pioneering Journal, ‘The Management Accountant’ since 1966. This Journal is being published keeping in mind the needs of the Cost and Management Accountants (CMA), and provides wide knowledge on the recent developments and changes in the global and national financial scenarios. The wide circulation and inputs from academicians, researchers and industry stalwarts are the keys to the success of this journal.