Understanding the Influence of Technology Risks on Insurance Companies Performance Through InsurTech Innovation: An Empirical Study of Jordanian Insurance Companies

This study investigates the relationship between technology risks, particularly data privacy concerns, and insurance performance in Jordan, while exploring the influence of demographic and professional factors such as age, work experience, specialization, and technology adoption levels. Using a questionnaire survey method, the study built on previous empirical research by collecting demographic information and measuring study variables on a 5-point Likert scale. A pilot test was conducted to refine the questionnaire, resulting in an 86% response rate, and slight modifications were made to improve clarity. The final dataset comprised 143 responses from employees of Jordanian insurance companies, with 23 responses excluded due to incomplete data. The study employs a combination of regression analysis and analysis of variance (ANOVA) tests to examine how these variables impact insurance performance and perceptions of technology risks. The findings underscore the importance of addressing technology risks, particularly data privacy, as a strategic priority for insurance companies in Jordan. The study provides valuable insights for policymakers and practitioners, emphasizing the need for robust risk management practices, targeted training programs, and technology-driven strategies to enhance performance and build resilience in a rapidly evolving digital landscape.