 Hey guys, it's MJ and in this video. We're talking about Amazon now in November 2017 Amazon started hiring a whole bunch of insurance professionals otherwise known as Actress now when Amazon started off selling books on the internet and now they're employing the most intelligent people in the world Why are they doing that? Turns out that they're teaming up with Berkshire Hathaway, which is a Warren Buffett company and JP Morgan, which is a massive American bank to start a health care company now health care is one of the pillars of Actuarial science, so it makes sense that Amazon needs some actress But let's look at why they're doing this Amazon believes that they've identified a gap in the market They believe that the big large insurance companies are like these massive snails that are not ready to embrace innovation and new technology and that this is given Amazon an opportunity Now they've teamed up with Warren Buffett because Berkshire Hathaway owns a company called Jenri and Jenri is a Reinsurance company, which means it's an insurance company for insurance companies Now that gives them access to a whole bunch of Data and Amazon having a whole bunch of data mining and AI is going to be able to take that data and find some really awesome opportunities They also probably teaming up with JP Morgan because an insurance company needs a lot a lot of Capital and even though Amazon is a giant company on its own It's probably gonna need extra financing in order to enter this market So what can we expect? I think what we can expect is just a much better user experience For those of you who know trying to get health care or any form of insurance is an absolute nightmare And that is because Regulation has made it so so rigid to do anything and Amazon might be coming up with a program That can facilitate that and it might be really cool to buy insurance, especially health care online on one of their websites Now Amazon aren't the only tech company to get involved in the space We're seeing Apple move in as well They've teamed up with actually a local company in South Africa called Discovery or you guys might know it in London under the term Vitality and what they're doing is they're giving vitality members Free Apple watches and the whole idea behind it is you put on this little Apple watch and We're gonna take all your health data and we're gonna start using it now Apple is happy because they're getting this data Which is invaluable and vitality is happy is because in order to get the free watch You have to do a whole bunch of exercise Which means you have to be healthier and a healthier person is probably gonna make less claims So they're actually making money by giving people free technology And that's that's one of the wonderful things about actuarial science is that you find these weird paradoxes that by giving people Free tech you actually make money by doing so So I'm really excited to see where the market goes I think you guys should be excited as well as we're seeing tech companies Which are great employers now turning and looking to act trees for their expertise in this space But that's why I cannot stress it enough that if you guys are studying actuarial science you need to start embracing programming and other forms of technology because that is the ultimate Combination someone who understands the regulation and financial institutions as well as all the programming and you know Computer tech they're gonna be in a perfect place to create Artificial intelligence that is gonna handle all this form of regulation and do all of these boring jobs That yes, they are gonna probably wipe out the actuarial Profession, but what they are gonna do is gonna free up the profession to do other cool things and tackle other areas of life So yes, it is gonna destroy or disturb a whole bunch of jobs But it's also gonna create a whole bunch of new ones and it is an exciting space to be playing in and that's how I do Want to encourage everyone who is either studying programming to start also looking at actuarial science And if you're studying actuarial science to also look into programming anyway I'll keep you guys updated with any more news, but thanks so much for watching and don't forget to hit subscribe. Thanks guys. Cheers