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.