SLICGL highlights importance of insurance protection for SMEs at ‘Scale Up 2.0’

Sri Lanka Insurance Corporation General Ltd. (SLICGL) was the Strategic Partner for ‘Scale Up 2.0 – National SME Forum 2026’, a national-level platform organised by the Ceylon Chamber of Commerce and held on August 11 at the Grand Marquee, Taj Samudra Hotel.

Held under the theme ‘Connected. Competitive. Ready to Grow’, the forum brought together members of Sri Lanka’s SME community, including industry stakeholders, business leaders, decision-makers, investors and potential partners. It aimed to support SME growth by providing opportunities to gain market insights, connect with decision-makers, explore new markets and identify potential business partnerships.

As SMEs expand, managing and protecting the risks associated with growth becomes increasingly important. SLICGL’s participation provided a platform to engage directly with entrepreneurs and business leaders, understand their evolving requirements and raise awareness of general insurance solutions tailored to the SME sector.

The company adopted an advisory approach at the forum, helping SME owners better understand their risk exposure and consider appropriate protection for the assets and operations they have built.

For many SMEs, growth involves entering new markets, forming partnerships, investing in equipment and expanding operations. However, protecting existing assets such as premises, machinery, vehicles, stock and employees is equally important, particularly when businesses face unforeseen disruptions.

As enterprises grow, their exposure to risks can also increase. These may include property damage, fire, natural disasters, accidents, vehicle-related incidents, liability claims and business interruptions. Appropriate insurance cover can help businesses manage the financial impact of such events and maintain continuity.

Insurance also provides protection as businesses expand their responsibilities. Growing workforces, larger customer bases, new partnerships and expansion into new markets can create additional liability and operational risks. As a company’s assets, workforce and activities evolve, its insurance requirements must similarly adapt.

A resilient SME sector depends not only on businesses that take advantage of opportunities during favourable conditions, but also on those that are prepared to withstand unexpected challenges. Effective risk management and appropriate insurance protection can therefore form an important part of sustainable business growth.

At Scale Up 2.0, SMEs explored opportunities in areas including new markets, partnerships, technology and investment. SLICGL highlighted that each new opportunity can also bring additional risks and responsibilities, reinforcing the importance of viewing proactive risk management not as a competing priority, but as a strategic enabler of sustainable growth.