INDONESIAN CONSUMER BEHAVIOR OF BANCASSURANCE USE: THE MODERATING ROLE OF LIFESTYLE AND INCOME

Abstract

This study aims to analyze the influence of customer knowledge and perceived value on attitude, and the impact of attitude on the intention to reuse Bancassurance products, while testing the moderating roles of lifestyle and income. This study uses a quantitative, explanatory research design. Data were collected through structured questionnaires administered to Bancassurance customers at the four largest national banks in Indonesia using purposive sampling. The number of respondents analyzed met the minimum criteria for Partial Least Squares-based Structural Equation Modeling (PLS-SEM) analysis. The results show that customer knowledge and perceived value have a positive and significant effect on attitude. Furthermore, attitude positively affects the intention to reuse. The findings also reveal that lifestyle and income significantly moderate the relationship between attitude and intention to reuse, with the influence of attitude on reuse intention stronger among customers with a lifestyle-oriented towards financial planning and a higher income level. This study makes a theoretical contribution by integrating the Theory of Planned Behavior and the Triangular Attitude Model in the context of Bancassurance in Indonesia. In practice, the results of this study have implications for banks and insurance companies, suggesting ways to improve customer retention through product education strategies, strengthening perceived value, and psychographic and income-based segmentation. The research novelty draws on the moderating roles of lifestyle and income among bancassurance customers.