Laith Khrais

The integration of insurance technology with e-commerce in Saudi Arabia is a key driver of financial and technological advancement, aligning with Vision 2030, the national strategy for economic diversification and digital transformation. This study examines the technological factors influencing this integration, assessing both enablers and barriers, including application programming interfaces, artificial intelligence, real-time risk assessment, cybersecurity, outdated infrastructure, and regulatory alignment. A quantitative approach was employed, gathering data from 253 professionals in Saudi Arabia’s insurance and e-commerce sectors, including financial managers handling underwriting and investment, compliance officers ensuring regulatory compliance, information technology specialists overseeing system integration and cybersecurity, and policymakers shaping industry regulations. Structural equation modeling revealed that application programming interfaces (β = 0.78, p = 0.020), artificial intelligence (β = 0.70, p = 0.025), and real-time risk assessment (β = 0.62, p = 0.030) significantly facilitate integration, while cybersecurity vulnerabilities (β = 0.57, p = 0.035), outdated infrastructure (β = 0.54, p = 0.040), and regulatory misalignment (β = 0.57, p = 0.035) pose major barriers. Additionally, government incentives (β = 0.51, p = 0.040) and workforce expertise (β = 0.49, p = 0.035) influence adoption outcomes. The findings highlight the need for regulatory harmonization, enhanced cybersecurity, financial support, and workforce training to facilitate seamless integration and ensure the long-term sustainability of insurance technology in Saudi Arabia’s evolving digital economy.

Type of the article: Research Article

Abstract
The emergence of Islamic finance has positioned Sukuk as a moral substitute for traditional bonds. However, misalignment with International Financial Reporting Standard 9, especially in Jordan, erodes investor confidence and reduces integration into world markets. This paper attempts to quantitatively evaluate how classification difficulties under International Financial Reporting Standard 9 affect investment strategies, decision-making, and market attractiveness of Sukuk within Jordan’s financial system.
Data were collected from a stratified sample of 346 finance professionals from banks, investment businesses, insurance companies, and regulatory authorities. Each participant had at least three years of work experience and suitable academic credentials. Utilizing partial least squares structural equation modeling, the survey was carried out between September 2024 and January 2025. The results indicate that classification issues have a significant adverse effect, reducing investment strategy efficacy by 46% (β = –0.46, p < 0.01), decision-making clarity by 37% (β = –0.37, p < 0.05), and Sukuk attractiveness by 52% (β = –0.52, p < 0.001). These significant effects are reinforced by vigorous diagnostics of the model, with variance inflation factor measures between 1.15 and 1.23, and by superb fit indices of the model, such as a standardized root mean square residual of 0.06 and a comparative fit index of 0.95.
The results underline the need for a coordinated international classification system and the structural influence of regulatory inconsistencies on Sukuk viability. Promoting openness, restoring investor confidence, and enabling wider acceptance in foreign markets all depend on aligning Islamic financial instruments with global reporting standards.