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Factors affecting insurance premium (1)
Dr. Kavita Sharma, a professor at the School of Management Studies, gave a lecture on the fundamentals of insurance. The objectives of the lecture were to understand the factors that affect insurance premiums, draw knowledge about insurance concepts and basics, and understand the twelve major factors insurance firms consider when determining individual policy premium rates, such as age, gender, smoking, drinking, health, family health history, occupation, financial status, driving record, hobbies, bankruptcy, medical history, and lifestyle.
Factors affecting insurance premium (1)
- 1. Dr Kavita Sharma Professor, Schoolof Management Studies Fundamentals of Insurance
- 2. Lecture No. 1/CourseObjectives • Understand what factors are there which may effect the premium ? • Draw on knowledge about Concepts of insurance . • Draw a knowledge about Basics of factors affecting in insurance
- 3. What Are theTwelve Major Factors You Need to Keep in Mind? •The following are what insurance firms use when deciding the premium rates of individual policies
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