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Blessed are the Geeks - For they will inherit a world of financial and personal success

Geeky Online Gaming Skills Could Help Your Home Life and Finances – And Also Your Love Life

Online gamers were once considered geeks - but Brits with gaming skills are set to triumph over the next decade when it comes to making money and living successfully, according to new research.

As more and more of our lives are shaped by our online presence, gaming skills and the ability to ‘play’ with online personal data when dealing with organisations will reap dividends for this new generation of ‘digital deal makers’.

The report* by The Future Laboratory on behalf of Confused.com claims that skilled ‘geeky’ online gamers will be able to turn knowledge into real financial power over the next 10 years.  This could happen simply by striking deals with savvy companies in the new ‘Personal Information Economy’ – with over half (57%) of people quizzed saying they would be prepared to share more personal data, tastes and preferences in return for bespoke financial services or products.**

The Confused.com report ‘Game On’ also predicts these Personal Information Players, or PIPsters, will use electronic devices to record what they eat, how much they exercise, even how they drive - and they’ll have no hesitation using this personal data to strike money-off deals with leading companies.

In addition, the Personal Information Economy will see the rise of gaming and digital apps, which will drive down the cost of financial products such as life insurance.

Matt Lloyd, of Confused.com, said: “Knowledge really is power for PIPsters, who have already taken control of their online personal data and begun making deals with their data to save money – or to make more cash.

“Savvy PIPsters understand that companies and governments gather huge amounts of information about them in the digital world, and they are happy with that – as long as they get something out of the deal.”

Over a third (35%) of Brits have already used a self-quantifying app or service to monitor themselves in areas such as fitness levels, mental health and sleep patterns. This rises to nearly two thirds (60%) among 25-34s and 59% in 18-25s. 

Other findings include:

  • Almost two thirds (64%) of people in the UK think they should pay less for life insurance if they can show they don’t smoke. Four out of ten (44%) feel life insurance premiums should be lower if they exercise regularly
  • Three quarters (75%) of people would make more effort to be a good driver if financially rewarded for doing so, rising to nine out of ten (92%) of 18-24 year olds
  • Over a quarter (27%) of UK men would like an online app to make them a better lover, compared to just 14% of women.
  • More than half (57%) of people in the UK would be more likely to keep their streets clean if an element of online competition was introduced

Matt Lloyd, of Confused.com, added: “This will reinforce the connection between positive behaviour and better insurance deals.  People who have given up smoking can already re-apply for their life insurance and may see a cheaper quote.  In the future of our Personal Information Economy, digital monitoring apps will increase the link between lifestyle and finance, for instance if people want to lose weight to reduce the cost of their life insurance.”

The research also reveals:

  • The most desired app is one that could help save money, named by 46% of women and 37% of men
  • One in three people think that good drivers should be doubly rewarded financially for their skills by paying less for life insurance as well as car insurance
  • There should be rewards for being chilled out, according to almost a quarter (23%) of people, who believe that managing stress levels should reap financial rewards for life insurance customers

Tom Chatfield, speaker with internationally recognised global conference organisation TED, and who contributed to the Game On report, added:

“We're becoming so information-literate that we interpret all the masses of personal information online almost instinctively, learning to use it to shape our sense of identity and to improve our lives.”

Young Britons in the 18–24 age group are particularly open to digital deal-making, with 44% prepared to share health details to obtain an individually tailored brand offer, compared to 38% overall.  Almost half of the same age group (48%) would make the same agreement over dietary data, compared to 35% overall – and 35% of 18-24s would offer access to details about their emotions, compared to 24% overall.

Jesse Spink, Creative Director at online learning and health game creators Ayogo, was also involved in the report, and concluded: “Online is quickly becoming an aggregate of every metric we have about ourselves - whether it be professional, or health, or how we drive.

“Every social network and brand we interact with online gains some access to all that information - but we are accepting these terms and conditions because we are realising that we can use them to our advantage.”

ENDS

To download the free report and to watch our exclusive interview with Tom Chatfield, please visit: www.confused.com/game-on

More press info
Contact Helen Campbell: helen@illuminatecomms.com, 07551 005 877

Notes to Editors
* Unless otherwise stated, all remaining stats are taken from a new survey of 2,000 UK adults carried out by Future Poll for Confused.com in October 2012. All figures rounded up to nearest 1%.
** Source: The Future Laboratory’s Consumer Attitudes Audit 2012.

About Confused.com
Confused.com was the UK's first price comparison site for car insurance. Confused.com is one of the UK’s biggest and most popular price comparison services. Launched in 2002, it generates over one million quotes per month. It has expanded its range of comparison products over the last couple of years to include home insurance, life insurance, travel insurance, multipet insurance, van insurance, motorcycle insurance, breakdown cover options and utilities, as well as financial services products including credit cards, loans, mortgages and life insurance. 

Confused.com is not a supplier, insurance company or broker. It provides an objective and unbiased comparison service. By using cutting-edge technology, it has developed a series of intelligent web-based solutions that evaluate a number of risk factors to help customers with their decision-making, subsequently finding them great deals on a wide-range of insurance products, financial services, utilities and more. Confused.com’s service is based on the most up-to-date information provided by UK suppliers and industry regulators.

Confused.com is owned by the Admiral Group plc. Admiral listed on the London Stock Exchange in September 2004. Confused.com is regulated by the FSA.





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