thoughtbuzz young india bfsi study v2.0

YOUNG INDIA – BFSI

1st-31st Jan,2014

Research Methodology

Our approachWe listened to conversations and collected the data automatically from a corpus of several million sites, Collection was done on the basis of requirement defined by combinations of keywords. The data was then ran through a layer of text-mining tool to remove noise, refine sentiment and refining themes.

Time Frame: Jan 1, 2014 to Jan 31, 2012

Multilayered Refinement

The purpose of this report is to examine BFSI chatters on the web, the key drivers of conversation around the market and Industry, causes of negative and positive brand mentions, and identify key trends and mindset of people hosting these conversations.

Objectives

Collection

Report

Analysis

Articles and comments were then evaluated by researchers after removing noise, there from assessing sentiment (negative, positive, neutral and ambivalent of the sample selected) and structuring the information into themes. Which indulged manual as well as automated processes to derive qualitative and quantitative analyses of the results to identify the trends in discussions threads.

Present all the results from the analysis in this report

From the total relevant universe sample was selected for analysis through Stratified Random Sampling – Data captured across all dates and social media channels, Analysis done through semi manual process which also involves extrapolation of multi tagged tonality & themes

•Million of web sourcesMulti-level iterations to build comprehensive and relevant queries•Derived through removal of irrelevant content such as ad links, irrelevant postings etc. through a combination of human analysis and text mining

Relevant Universe 208338

Sample Analyzed

1,500

INDUSTRY - BFSIGEO - INDIA DURATION - 1st-31st Jan,2014SOURCES – Twitter, Blogs, Forums, News & other Social Media ChannelsSAMPLING – 10% random sampling

Young India – BFSI

It’s said every industry’s future lies in the hands of the youth of their country. Keeping this in mind here’s an attempt to

quantify what INDIA’s Youth Talking about BFSI as an industry

“ ”

Others

105

Stocks

465

Mutual Funds

420

Banking 180

Insurance330

BFSIRelevant Universe

2,08,338(JAN 2014)

N= 15,000 (Sampling done further at 10%, n = 1,500)

Our Methodology

STEP 1: SELECT CRITERIA FOR THE STUDY

STEP 2: INDUSTRY SEGMENTATION & CATEGORIZATION, DEMOGRAPHIC BIFURCATION - AGE, GENDER etc

STEP 3: CATEGORY & SUB CATEGORY WISE SENTIMENT

Insurance Banking Mutual Funds Stocks Others

1.CATEGORY a. SUBCATEGORY

+ve-veNeutral

KEY INSIGHTS

INDUSTRY - BFSIGEO - INDIA DURATION - 1st-31st Jan,2014SOURCES – Twitter, Blogs, Forums, News & other Social Media Channels

THOUGHTBUZZ ANALYTICS

Key Discussions – BFSI

31%

28%

22%

12%

7%

Stocks Mutual Funds Insurance Banking Others

Of the observed more than 30% of discussion were related to shares & stocks Almost every 3rd individual is either enquiring or suggesting about various Mutual

Funds

31%

28%

22%

12%

7%


31%

28%

22%

12%

7%


31%

28%

22%

12%

7%


31%

28%

22%

12%

7%


31%

28%

22%

12%

7%

Stocks Mutual Funds Insurance Banking OthersInsurance related discussions are mostly either a promotional call complain, or an enquiry, or a claims settlement related discussion

Includes discussion around NSC, Post Office Savings, Bonds, VC, Lottery, Lucky Draw, Angel Investors

Inclusive of discussions related to Indian banking system, CASA a/c opening & promotions, IBPS, Credit Cards & Loans

Captured various conversation around stock quotes, exchange market conditions, experts tips & bullish market trends & forecasts

Buzz related to MF’s, growth rate, SIP’sMF agents, policies & regulations, lock-in periods & return on investments

N= 1,500, 10% sample taken out of available data 15,000 random JAN’14

Key Age Groups – Bifurcation taken for the study

Less than 30 Years

30-40 Years

Greater than 40 Years

Majority of them were interested in discussions related to mf’s, sip’s start-ups, VC funding's & Angel investors

Majority of them were keen interested in stocks buzz & discussions related to short term investments

Majority of them initiated and participated in all kinds of insurance, stocks & mf’s discussions, many people of this age group were sharing investment tips & claims settlement issues

50% of the observed

26% of the observed 24% of the observed

N= 215, age group data available out of the universe of 15,000 random data

Topic wise key interest People below the age group of 30 years were more interested in Mutual Funds, Bonds,

Venture Capitals, Angel Investors etc. People falling between the 30 – 40 age group took more interest in stocks & shares

related discussions People Above 40 years were equally interested in Insurance MF’s & stocks

22% 21%

26%

10%

15%

9%

27%

24%26%

21%

29%26%

20%

12% 13%

< 30 > 30 & < 40 > 40

Insurance Banking MF Stocks Others

22% 21%

26%

10%

15%

9%

27%

24%26%

21%

29%26%

20%

12% 13%

< 30 > 30 & < 40 > 40

Insurance Banking MF Stocks Others

N= 215, age group data available out of the universe of 15,000 random data

Gender Analysis – Bifurcation taken for the study

Males were almost 2 times more active than females in posting BFSI related queries &

suggestions 67% 33%

N= 3000, gender breakup available out of the universe of 15,000 random data

Top Category – Gender Bifurcation

18%

12%

25%

40%

5%

23%

17%

23%

33%

4%

Insurance

Banking

MF

Stocks

Others

Female Male

Males were predominantly interested in various Stocks, Mutual funds & other investment related queries whereas Females took more interest in Banking & Insurance related discussions

18%

12%

25%

40%

5%

23%

17%

23%

33%

4%

Insurance

Banking

MF

Stocks

Others

Female Male 67%33%

N= 3000, gender breakup available out of the universe of 15,000 random data

Now, let’s look at BFSI as an overview (all age groups) &

bifurcate the categories into sub- segments to drill down further

Others 105

Stocks 465

Mutual Funds

420

Banking 180

Insurance

330

N= 1,500 for all further analysis beyond this point (10% sample of 15,000 available universe JAN’14 data)

Others105

Stocks465

Mutual Funds

420

Banking180

Insurance

330

Top Discussions – Bifurcation taken for the study as per the Overall BFSI buzz

Stocks Mutual

Funds Insurance Banking Others (VCs,

Angel Investors etc)

TOP CATEGORIES31%

28%

22%

12%

7%


31%

28%

22%

12%

7%


Top Discussions – BFSI

7% 16% 20% 18% 23%3%

17% 8% 9% 5%

90%67% 72% 73% 72%


Positive Negative Neutral Almost 3 out of every 10 investors were interested in stocks news & posts Almost every third person was enquiring about Mutual funds, Majority of them are not satisfied with the

current growth of their Mutual funds investment 2 of every 10 person have invested in either of Life, Health & General insurance Indian Banking system discussions were mostly related to banking promotions & CASA a/c openings,

Majority of people agreed that Indian banking system should be modified 7 out of 100 people were more contented in unconventional investment instruments for short term profits

7% 16% 20% 18% 23%3%

17% 8% 9% 5%

90%67% 72% 73% 72%


Positive Negative Neutral

N= 1,500 10% sample of 15,000 available universe JAN’14 data

Others105

StocksN 465

Mutual FundsN 420

Banking180

Insurance

330

INSURANCE – Bifurcation taken as per the Buzz

Investment: Insurance as investment options

Money : money worth options/ monetary value for insurance segment

Tax : Insurance as Tax saving option General : Vehicle insurance chatter Policy/Claims : Insurance chatter

around claims & policies (Life/Health Insurance were major chatter for claims)

Life : Insurance chatter around life insurance

Health : Insurance chatter around health insurance

TOP CATEGORIESInvestment

24%

Money17%

Tax16%

General16%

Policy/Claims10%

Life 10%

Health7%

17%32% 35%

21% 14% 14% 17%3%

9% 7%

13%15% 15% 5%

80%59% 58% 66% 71% 71% 78%

INSURANCE – Netizens perspective towards Insurance

Stocks31%

Mutual Funds28%

Insurance22%

Banking12%

Others7%

Around 20% of people discussing about insurance finds insurance as a investment instrument, Most of their discussion were related to insurance investment & returns 14% of the total people discussing about insurance were actually investing or enquiring about insurance investment because of tax saving benefits General insurance related discussions were basically claims settlement related and new policy enquiry Policy & Claims related discussions were mostly complains & settlement related issue, Almost all the

comments observed referred policies as complicated rules & regulations

7% 16% 20% 18% 23%3%

17% 8% 9% 5%

90%67% 72% 73% 72%




N = 330

Discussions pertaining to various types of Insurance investment, claims settlement related, tax saving benefits, experts suggestions & advice

Investment : Around 2 in 10 people discussing about Insurance were

enquiring about various insurance policies from a secured investment standpoint

Money : Adviser & Experts were suggesting various tips to save money through different insurance plans

Tax : Tax saving policies, and various taxation conventions for insured investments on surrender before maturity were most discussed topics

General Insurance : Top buzz were around SBI General Insurance recruitment, general insurance promotions & various vehicle insurance plans

Policy/Claims : 1 out of every 10 people discussing about insurance were either enquiring, suggesting or complaining about claims settlement & maturity. Mostly vehicle/ health insurance related claims saw a major –ve chatter as people sign up insurances without reading the terms & conditions

Life Insurance : Majority of people discussing about life insurance policies, maturity & claims enquiries were above 40 age group

Health Insurance : Most of the health insurance insured were unhappy with un-settled claims & hidden policies

INSURANCE – Key Findings

BANKING – Bifurcation taken for the study

Credit Cards: Consumer banking credit card chatter

Banking: Bank accounts & other online/offline consumer banking related chatter

IBPS: Banking exam related chatter Loans: Home/Auto/Personal Loan related

chatter Interests: Rate of interest on various

PF/FD etc related chatter

TOP CATEGORIES

Others105

Stocks465

Mutual Funds

420

Banking180

Insurance

330

Credit Cards12%

Banking17%

Ibps1%

Loan46%

Interest24%

BANKING – Netizens perspective towards Indian Banking System

Stocks31%

Mutual Funds28%

Insurance22%

Banking12%

Others7%

7% 4% 10% 5% 2%3% 12% 3% 9% 8%

76% 84% 87% 86% 90%

Credit Cards Banking Ibps loan Interest


Around 34% of the total banking discussions were related to loans, Most of the people were unhappy with Indian bank loan allotment policies

Banking regulations and conventional functioning was highly criticized, a lot of people were of the opinion to redefine banking norms for the advancement of the monetary transactions

Many students were enquiring and sharing their ideas to crack the exams for banking services 3 out of every 100 credit card holder was not happy with their financial planning RBI’s decision to increase the Repo rate was highly criticized by netizens

7% 16% 20% 18% 23%3%

17% 8% 9% 5%

90%67% 72% 73% 72%



N = 180


Buzz around Indian banking systems, bank policies , products, offerings/promotions, common banking issues faced by Netizens across India

Credit cards: Discussion around credit card promotions, billing issues & salary savings were of major concerns

Banking: Netizens showed their major concerns regarding conventional Indian banking System, Most of them were unhappy with conventional banking policies & complicated paper works, many people wanted Indian banking to get more advance to make monetary transactions more smooth & easy, many buzz around Islamic banking were also observed

IBPS: Many applicants of common banking entrance test were enquiring about IBPS exams & cracks

Loan: Buzz around home loans, Interest free loans for farmers, education loans & vehicle loans, EMI, EMI calculations, promotions & pay back was observed most, Islamic banking sharia loan programs buzz was also the hot topic of discussion

Interest: Netizens criticized RBI’s action of hike in repo rates, Many people were unhappy with hike in interest rate, Interest free loans of Islamic banks was a trending topic

BANKING – Key Findings

MUTUAL FUNDS – Bifurcation taken for the study

Mutual Fund: MF discussion around high return investment tips/advice& comparing various growth funds

SIP: Short term Investment discussions around small investors

Growth Rate: Discussions related to rate of return

Lock in: Enquiries for lock in period of various plans

Commission: Buzz around hidden commission and charges

Agent: Over selling practice of agents

TOP CATEGORIES

Others105

Stocks465

Mutual Funds

420

Banking180

Insurance

330

Mutual fund3% SIP

3%

Growth Rate24%

Lock in7%Commission

50%

Agent13%

MUTUAL FUNDS – Investment instrument Netizens opinion

Stocks31%

Mutual Funds28%

Insurance22%

Banking12%

Others7%

Most of the investors were mystified about Mutual Funds investments, Almost every second investor was confused about their invested money

A many investors were enquiring about SIP , Few financial advisors also recommended SIP to investors Investors were mostly concerned for their investment growth rate, Most of them were enquiring about the

Mutual Funds growth calculations A many cases were observed where major portion of the Mutual funds premiums were secretly charged as a

commission leaving investors no clue about the deductions

7% 16% 20% 18% 23%3%

17% 8% 9% 5%

90%67% 72% 73% 72%



10% 17%8% 8% 9%

8%5% 21%

6% 17%19%

82% 78% 71%86% 83%

72%

Mutual fund SIP Growth Rate Lock in Commission Agent

Series1 Series2 Series3

N = 420


Discussion around Mutual Funds queries & suggestions, SIP’s investment, short term growth funds, agents hidden commission & complicated policies

Mutual Funds : Majority of experts were posting high return investment tips/advice, Investors were enquiring & comparing various growth funds

SIP: Short term Investment discussions were mostly keen to small investors, many people were enquiring about short time period investment to save their salary

Growth Rate : Discussions related to high growth rate of return were keen to small investors. Many investors were enquiring for low risk high return plans & tips

Lock In : Investors enquired for lock in period of various plans and products, Few complained about their advisors/agents for not disclosing plans lock in period

Commission : Buzz around hidden commission and charges, Majority of people were not familiar with commission/charges deductions from their monthly premiums

Agents : Many people were not happy with the over selling practice of agents, Many investors also mentioned that agents doesn’t disclose complete information about the products before selling them

MUTUAL FUNDS – Key Findings

Others105

Stocks 465

Mutual Funds

420

Banking180

Insurance

330

STOCKS – Bifurcation taken for the study

Shares : Chatter around stocks or share holders NSC: Index news, top gainers & losers, Index

historical trend, performance forecast discussions Call: Discussions around when to call back a stock Put: Discussions around when to invest into a stock BSE: Conversation were about Index listings of the

day , stock comparison, expert tips OPTIONS : Conversation around hedging &

minimizing risk of uncertainty in trading DEBENTURES : Chatter around credit holdings in

a particular company or an institution MCX: Buzz around MCX auction plan for FTIL stake

reduction, commodity quotes & research studies

TOP CATEGORIESShares

23%

NSE23%

Call19%

Put15%

BSE14%

Option6%

Debentures0%

MCX0%

STOCKS – Indian Investors views

10%22%

6% 3%14% 13% 7%

19%4%

86% 78%94% 97%

86% 87% 93%81%

Positive Negative Neutral Of the observed majority of people were interested in stocks & equities, Most of them shared the stock quotes & raised query on various stocks & exchange markets

A lot of new investors were inquiring about derivatives and were seeking experts suggestions on call & put options

Majority of share holders were suggesting first times to uphold their investments in equities for bullish market situation

A lot of experts were of the opinion that Indian investors are blind folded and carry the least knowledge about the instrument they are investing in

7% 16% 20% 18% 23%3%

17% 8% 9% 5%

90%67% 72% 73% 72%



N= 465


Stocks31%

Mutual Funds28%

Insurance22%

Banking12%

Others7%

Buzz led by news around stocks, expert tips & quotes, top gainers & losers, NSE & BSE index & MCX

Shares : 2 out of 10 people talking about stocks were either a share holder or an expert

NSE : Index news, top gainers & losers, Index historical trend, performance forecast discussions were mostly discussed

BSE : top conversation were about Index listings of the day , stock comparison, expert tips & investment suggestions

Call/ Put options: Many experts suggested investors to cover up their risk of investment though balanced call and put option trading

MCX : News around MCX to give action plan for FTIL stake reduction, commodity quotes & research studies led buzz were observed

STOCKS – Bifurcation taken for the study

OTHERS – Bifurcation taken for the study

Post office: Chatter around post office saving & News stating post office’s to be converted in to payment banks

Bonds: Chatter around interests of various kinds of bonds, various enquiries, quotes

Venture Capitalist: Chatter around startups & VC funding

Cash Funds: Observed around unconventional investment practices like Cash Funds

Chit Funds: Observed around unconventional investment practices like Chit Funds

Lucky Draw: Observed around unconventional investment practices like Lucky Draw

Angel Investors Buzz around Angel investors promotions, third party SME loan offerings, loan raising tips

TOP CATEGORIES

Others105

Stocks465

Mutual Funds

420

Banking180

Insurance

330

Post office6%

Bonds4%

VC33%

Cash Funds8%

Chit funds9%

Lucky Draw6%

Angel investors34%

OTHERS – Other Popular Investment tools

Stocks31%

Mutual Funds28%

Insurance22%

Banking12%

Others7%

18% 25% 29%17%

5% 8%

31%

2%5%

1% 1%

3%

82% 75% 69%78%

94% 91%

66%

Post office Bonds VC Cash Funds Chit funds Lucky Draw Angel investors

Series1 Series2 Series3 Many people still trust the outlawed method of financial investments, Lots of people are comfortable with the same unconventional practice of earnings & short term investments like Chit Funds, Lucky Draw & short term cash funds

Indian Post offices to enact as a payment banks encourages the interest of suburbs & rural investors Venture Capitalists were the most concerned area of the people falling under 30 years of age group A lot of new startups advocate their request through twitter for VC funding Many small & medium investors still find the conventional financial tools more effective

7% 16% 20% 18% 23%3%

17% 8% 9% 5%

90%67% 72% 73% 72%



N = 105


Category is inclusive of conversation around unconventional financial systems, Also people were initiating & participating in VC funding & Angel investment buzz

Post Office: News stating post office’s to be converted in to payment banks drove Netizens attention, Many secured investors admitted that post office savings are the best instrument safe and secured investment

Bonds: Investors were also interested in various kinds of bonds, various enquiries, quotes suggestions were observed

VC funding: Majority of people falling under 30 age group were interested in VC funding, Many were seeking for advice & suggestions from experts

A lot of conversation were observed around unconventional investment practices, Many people still follow the un-lawful short term investment practices, Majority of small investors still finds it easy and more profitable

Angel Investors: Buzz around Angel investors promotions, third party SME loan offerings, loan raising tips were more common among all others category discussions

OTHERS – Bifurcation taken for the study

WHAT DO THE CORPORATES SAY?

26%

19%36%

15%4%

ICICI Bank HDFC Bank SBI Bank Axis Bank BOBMajority of banking discussions were related to product promotion, product enquiry or issues. Moreover, Indian banking has to be more advance to convene the smooth & easy flow of money across the nation (especially small town wherein A cities can transfer funds to B Towns families without much paper work)

“CONSUMER BANKING” BRANDS ON SOCIAL MEDIA

26%

19%36%

15%4%

ICICI Bank HDFC Bank SBI Bank Axis Bank BOB

26%

19%36%

15%4%


26%

19%36%

15%4%


26%

19%36%

15%4%


26%

19%36%

15%4%


Key Findings: Indian banking still levy stiff paper-

works right from ac opening to monetary transactions

Many buyers complains were observed stating no clue about loss of money in online payment

In the era of E-commerce banking still requires complicated formalities for online monetary transactions

ATM withdrawal are still not free, many people expressed their grievances as they donate several amount of money from their salaried ac only for drawing money from ATM

N= 552, Consumer Banking brands mentions in JAN’14

WHAT DO THE CORPORATES SAY?

92%

5% 2%1%

0%

LIC SBI General Insurance Allianz Apollo Munich AvivaMajority of discussions around Insurance was related to LIC India. Insurance policies should be made investors friendly and there should be minimum hindrance in resolving claims settlement issues specially Health & General Insurance

“INSURANCE BRANDS” ON SOCIAL MEDIA

92%

5% 2%1%

0%

LIC SBI General Insurance Allianz Apollo Munich Aviva

92%

5% 2%1%

0%


92%

5% 2%1%

0%


92%

5% 2%1%

0%


92%

5% 2%1%

0%


Key Findings: Majority of investors are unaware

of the insurance policies A many complains were observed

affirming agents over selling practices

Majority of claims related issues were observed in the case of health & general insurance

N= 3776, Insurance brand mentions in JAN’14

FINAL TAKEAWAYS

1.

INSURANCE: INDIANs are unhappy with health insurance & were enquiring/ suggesting or complain about insurance claims settlements

BANKING: INDIANs want banking system to get more advance in terms of paper works and smooth money transactions (interbank transfer as well as refunds on ecommerce transactions)2

.MUTUAL FUNDS: INDIANs like the idea of small investment a solution for salary savings & were enquiring about short time period investment to save their salary.3

.4

.STOCKS: ONLY serious players predominate. Hence most of the stocks discussions were initiated either by a shareholder or a stock expert & were neutral in nature.

5.

UNDER 30 AGE GROUP: YOUNG INDIANs were mostly interested in VC fundings, Many were seeking for advice & suggestions from experts.

Thank You

This report and the information contained there in are based on information from online social media and other publicly available data. ThoughtBuzz does not warrant the accuracy of such information nor is ThoughtBuzz responsible for the content and accuracy of such information. Advisory information may be contained in the report. Any subsequent decisions made based on the data must be made after proper review and assessment of the impact of such information. In no event shall ThoughtBuzz be liable to you or your company for any lost profits, lost revenue, interest, goodwill, lost data, cost of procuring substitute services or for any indirect, incidental, special, or consequential damages of any kind, however arising, that are related to these terms, whether in contract, tort or negligence, or any legal theory.

thoughtbuzz young india bfsi study v2.0

Documents