Cross-buying in Bancassurance Among Indian Customers: The Role of Cultural Collectivism and Key Influential Factors

Abstract

This study examines the factors influencing Indian bank customers’ decisions to purchase banking insurance. In addition to the factors concerning cross-buying intentions like trust, customer satisfaction, perceived value and image, the role of service innovation and corporate reputation have also been incorporated in the study. Moreover, the moderating role of cultural values like ‘collectivism’ has also been explored. Using a causal and descriptive research design, 351 customers of banking services completed questionnaires to contribute to the data set using snowball sampling. The path analysis reveals that perceived value, customer trust, image, customer satisfaction, corporate reputation and service innovation positively and significantly influence cross-buying intentions. The moderation results show that collectivism moderates the association between cross-buying intentions and its five antecedents, that is, perceived value, customer trust, image, customer satisfaction and service innovation, except for corporate reputation. The findings improve our knowledge of how different factors influence cross-buying from the customer’s viewpoint.