“Where there’s risk, there’s opportunity.” These words from Zama Ngcobo, General Manager at Eswatini Royal Insurance Corporation, Ngcobo, encapsulate the spirit of the inaugural Insurance and Risk Management Leadership Dinner 2025, where industry leaders discussed how risk management is shaping resilient economies. Ensure Insurance Brokers hosted the Dinner under the theme “Shaping What’s Next”.
Reflecting on the COVID-19 pandemic, Ngcobo noted that the crisis served as a real-world test of business preparedness and flexibility.
“Those companies that had solid risk management practices were able to set themselves apart,” he stated. “Risk management is no longer a side activity; it’s now at the core of organizational survival and growth.”
Ngcobo noted that more companies now see the importance of dedicated risk leadership, with roles like Chief Risk Officer becoming a standard part of corporate governance. This change demonstrates a growing understanding that risk management is a strategic tool, not just a compliance necessity.
He used a powerful analogy to describe the insurance industry’s role in the economy:
“Think of the economy as a large ship navigating unpredictable waters; the insurance industry is the keel beneath it. It doesn’t make the ship move faster, but it keeps it steady, balanced, and upright, regardless of how rough the seas get.”
His comments resonated with the audience, many of whom have seen firsthand how insurance helps stabilize the economy during uncertain times.
Ngcobo also urged insurance professionals to look beyond just selling policies and to see themselves as partners in building corporate resilience.
“Our role as an industry is to protect society, to help organizations stay afloat when risks happen. That’s what gives purpose to our work,” he said.
His speech added depth to the theme of the evening, “Shaping What’s Next,” by highlighting that strong risk management frameworks are vital for sustainable growth, both for individual companies and the broader economy.