The Role of Trust and Accessibility in Bancassurance Evidence from Vietnam

Abstract

Introduction: This study is among the first to apply the Theory of Planned Behavior (TPB) within Vietnam’s post-crisis financial environment, a context marked by shifting consumer confidence and institutional trust. Given Vietnam’s collectivist culture and recent economic instability, understanding purchase intentions toward bancassurance products presents a timely research gap.

Objectives: The study aims to examine the factors influencing consumer purchase intention in the bancassurance sector by extending TPB to include brand trust, accessibility, perceived behavioral control, and purchase barriers.

Methods: A sequential mixed-methods approach was employed, comprising qualitative interviews followed by a structured survey distributed to 277 respondents. Quantitative analysis included reliability testing via Cronbach’s Alpha, Exploratory Factor Analysis (EFA), and multiple regression to assess the predictive power of extended TPB constructs.

Results: Findings indicate that accessibility, subjective norms, and brand trust significantly and positively affect purchase intention, whereas purchase barriers demonstrate a strong negative effect. Perceived behavioral control had a limited influence, suggesting cultural nuances in consumer autonomy and decision-making.

Conclusions: The research provides empirical evidence for enhancing the TPB framework in emerging market contexts and offers strategic recommendations for financial institutions and regulators seeking to strengthen bancassurance performance and rebuild consumer trust.