Factors Affecting Decision to Participate Bancassurance: Evidence from Individual Customers in the South of Vietnam

Khuu Thi Phuong Dong, Nguyen Thi Ngoc Hoa, Phan Dinh Khoi, Ho Thi Huynh Giao, Huynh Thi Tuyet Suong and Diep Tran Hoang Quyen
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Khuu Thi Phuong Dong: School of Economics, Can Tho University, Vietnam
Nguyen Thi Ngoc Hoa: School of Economics, Can Tho University, Vietnam
Phan Dinh Khoi: School of Economics, Can Tho University, Vietnam
Ho Thi Huynh Giao: School of Economics, Can Tho University, Vietnam
Huynh Thi Tuyet Suong: School of Economics, Can Tho University, Vietnam
Diep Tran Hoang Quyen: School of Economics, Can Tho University, Vietnam

International Journal of Economics and Financial Issues, 2024, vol. 14, issue 5, 62-70

Abstract: This study aims to investigate factors effect on decision to participate the Bancassurance of individual customers in the South of Vietnam. Binary Logistic regression model was explored to investigate the factors affect on the decision to participate in life insurance through Bancassurance channel. The data was collected by interview survey of 62 individual customers who have participated and not participated the life insurance through Bancassurance. Found results indicated that the customer’s income and the professional of insurance companies’ advisors have positive significantly effects on the decision to participate in life insurance products via Bancassurance channel of personal customers in Can Tho city, Vietnam. Based on the results, the diversification of payment policies for customers with different groups of income level should be considered to enhance the enhance the decision to participate Bancassurance. The trust, creditability and transparency of information sharing by insurance companies’ advisors should be ensured to improve the confidences of customers on the advisor consultants.

Keywords: Bancassurance; Life Insurance; Decision to Participate; Binary Logistic Regression (search for similar items in EconPapers)
JEL-codes: G1 G2 M5 (search for similar items in EconPapers)
Date: 2024
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