The problem of the current study revolves around identifying the impact of using big data to improve risk management in financial institutions. To fulfill the goals of the study and respond to its inquiries, a descriptive and analytical approach was employed. The study population consisted of all employees in Jordanian insurance companies, where an electronic questionnaire was sent to a group of employees in these companies, where 318 responses were collected, and the Statistical Package for Social Sciences (SPSS) program was used. The results indicated that there is a positive association between the using big data on improve risk management (legal, operational, and financial risks) in financial institutions by examining it in Jordanian insurance companies. From the study’s findings, it is recommended to Engage FinTech/technology providers with a proven track record in big data solutions to leverage their expertise. This allows for improved capabilities while rapidly adopting innovative technologies; Ensure data accuracy, completeness, and timeliness. This ensures reliable analytics. Establish quality assurance processes and create data governance roles to oversee these efforts; Prioritize the development of predictive models that more accurately anticipate potential risks.