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A quarter of millienials would literally offer up urine and blood samples for cheaper insurance

Research from Decode suggests that millennials are not squeamish when it comes to securing a discount on their insurance.

The insurance attitudes survey of 1,000 UK residents between the ages of 18 and 34 found that 26 per cent of respondents strongly agreed they would be willing to regularly supply an insurer with a urine or blood sample to prove their good health if it meant claiming a discount.

A further 22 per cent admitted they were willing to wear a tracker chip if it meant they could pay lower insurance premiums.

Placing little importance on personal data or privacy, 29 per cent strongly agreed to have monitoring devices installed in their homes and cars to monitor their actions. A quarter would also allow wearable technology such as the Apple Watch monitor them too.

Commenting on the findings, Dr Paul Redmond, said: “These findings reflect much of what we already know about millennials and their preferences.

"The millennial generation is the first to grow up without any assumption of anonymity. This means it’s becoming increasingly important for modern organisations to understand the extent to which millennials are willing to give up so much of themselves in exchange for something they value.”

Tony Tarquini, director and industry principal of insurance at Pegasystems, added: “Price has always been a key consideration for any generation of customer, but this research illustrates that millennials, more than any other generation, are willing to give up very intimate information about themselves for the right incentive."

The study was conducted on behalf of strategic business applications company Pegasystems and Capgemini.

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