Determinants of Insurance Trust: The Relative Influence of Firm Characteristics, Salesperson Attributes, and Consumer Trust Orientation in Korea and China

Abstract This study investigates the determinants of trust in insurance companies and its behavioral consequences by integrating individual trust disposition, salesperson-related attributes, and firm-level characteristics. Using survey data collected from 905 respondents in Korea (n=249) and China (n=656), we employed exploratory factor analysis followed by stepwise regression to identify the primary drivers of insurance trust and subsequent behavioral intentions. It is the first to examine how trust in insurance relationships is shaped by both consumer characteristics (subjects) and insurer/salesperson characteristics (objects). Specifically, we ask whether distrust toward an insurer is more attributable to consumer dispositions or to insurer-related attributes. Results show that insurer-side characteristics—particularly salesperson attributes—play a more decisive role in shaping insurance trust. When consumer behavioral outcomes were examined, overall trust emerged as the strongest predictor of contract renewal intention, whereas recommendation intention was more strongly associated with relational factors linked to salesperson behavior. The study contributes to the trust literature by demonstrating the dynamic, multi-layered nature of trust in insurance relationships and offers actionable implications for trust-based relationship management in insurance markets.