A new extension of the three-parameter Generalized Inverted Weibull Distribution, called the Cosine-X Generalized Inverted Weibull (CGIWD) distribution, is proposed in this study. Several statistical properties of the distribution, such as moments, moment generating function, quantile function, Renyi entropy, and the distribution of order statistics, were investigated. Maximum Likelihood Estimation (MLE) was used to estimate the model parameters, and a simulation study was conducted to assess the behavior of the estimates. Additionally, we demonstrate the applicability of the proposed distribution, three real datasets were used. The results indicate that CGIWD performed better than competing distributions in fitting two of the real datasets.