What Icare does

icare (Insurance and Care NSW) is a NSW Government statutory body and government-owned corporation established under NSW legislation to deliver statutory insurance and care services for the people of New South Wales, Australia. Its core offering is the mandatory workers compensation insurance scheme covering all eligible NSW employers, organised around 538 Workers Compensation Industry Classifications (WICs) across 17 industry divisions and priced via experience-rated and standard premium models with a $240 minimum premium. Beyond workers compensation, icare administers the Home Building Compensation Fund (HBCF) for residential construction, the Treasury Managed Fund (Insurance for NSW) covering state assets and government agencies, plus four care schemes: Workers Care Program, Lifetime Care, CTP Care, and Dust Diseases Care.

The operational backbone is a cloud-based digital ecosystem built on Sitecore CMS, comprising at least eight interconnected portals — Policy Portal, Claims Portal, Provider Portal, Attendant Care Portal, Construction Risks Portal, Insurance for NSW Portal, HBCF Portal, and Dust Disease Care Portal — serving employers, injured workers, healthcare providers, builders, homeowners, and government agencies. Industry-specific resource hubs (Construction, Health, Transport, Manufacturing), analytics tools such as Manufacturing Insurance Insights, and a multi-language accessibility framework (Arial, Times New Roman, Open Dyslexic, night mode, W3C WCAG compliance) support stakeholder self-service. Claims delivery for government agencies and selected employer segments is operationalised through a network of contracted Claims Service Providers (Gallagher Bassett, Allianz Australia, EML, and icare Specialist Claims), complemented by an approved attendant care provider panel for severe injuries including spinal cord injury, brain injury, amputations, burns, and permanent blindness.

Revenue is generated almost entirely through legislatively mandated, recurring premium income across seven schemes (workers compensation, HBCF, TMF, Workers Care, Lifetime Care, CTP Care, Dust Diseases Care), with pricing modulated by WIC industry classification, employer claims experience, wages, and incentive eligibility (Safe Employer Reward, Loss Prevention and Recovery, LPR Plus). Distribution combines statutory automatic coverage with digital self-service portals, a Mobile Engagement Team running webinars, broker/consultant relationships, and referrals from treating doctors and case managers. Customer coverage extends across all NSW industry verticals (Manufacturing contributing ~18% of scheme claims, Health covering ~400,000 workers, Construction representing over 30% of claims, Transport dominated by 92% small business participation) plus the full NSW Government agency footprint under TMF.

Name

Icare

Legal name

Insurance and Care NSW

Website

https://icare.nsw.gov.au

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

icare (Insurance and Care NSW) is a NSW Government statutory body providing mandatory workers compensation insurance and adjacent care schemes — HBCF, Lifetime Care, Workers Care, CTP Care, Dust Diseases Care, and Treasury Managed Fund — to NSW employers, injured workers, builders, and government agencies through a multi-portal digital ecosystem.

Ownership category

akta.pro rank

Product category

Workers Compensation Insurance

NAICS

Direct Health and Medical Insurance Carriers (524114)

SIC

Accident & Health Insurance (6321)

akta.pro primary industry

Occupational Accident Insurance (1099/Contractor Coverage) (FSAIALAF)

Keywords

• Workers compensation insurance
• Statutory insurance schemes
• Injury care programs
• Home building compensation
• Government insurance corporation

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Technology or R&D, Marketing or Sales

Revenue model

1. Workers Compensation Premiums: icare collects workers compensation insurance premiums from NSW employers. Premiums are calculated based on industry classification rates (WICs), employer claims experience, wages, and business activity. The scheme is legislated, making coverage mandatory for eligible employers.
2. Insurance for NSW (Government Scheme): icare provides insurance coverage for state assets, government agencies, and the public sector workforce through the Treasury Managed Fund (TMF), covering property, general liability, motor, travel, financial losses, and workers compensation.
3. Home Building Compensation Fund (HBCF): icare administers the HBCF scheme providing mandatory home building insurance for residential construction projects in NSW.
4. CTP Care and Dust Diseases Care: Care schemes for motor accident injuries and work-related dust diseases, funded through respective legislative schemes.
5. Workers Care and Lifetime Care Programs: Severe injury care programs managing treatment, rehabilitation, and support services for participants, funded through workers compensation and motor accident schemes.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

icare (Insurance and Care NSW) is a NSW Government statutory body that provides mandatory workers compensation insurance to NSW employers, covering workplace injuries with wage replacement, medical treatment, and rehabilitation. It also administers the Home Building Compensation Fund (HBCF) for residential construction, Insurance for NSW (Treasury Managed Fund) for state assets and government agencies, and care schemes including Lifetime Care, Workers Care, CTP Care, and Dust Diseases Care for severely injured individuals, supported by multiple integrated self-service digital portals.

Product overview

Icare (Insurance and Care NSW) operates as a government-owned insurance corporation providing a comprehensive suite of insurance and care services for the people of NSW. The core offering centers on Workers Compensation Insurance, a mandatory coverage for NSW employers, supported by digital platforms including the Workers Insurance Policy Portal for policy management and Workers Insurance Claims Portal for claim lodgement. Beyond workers compensation, Icare delivers specialized care programs: Workers Care Program for severe workplace injuries, Lifetime Care for motor accident injuries, CTP Care for long-term motor injury support, and Dust Diseases Care for occupational lung diseases. Additional products include Home Building Compensation Fund (HBCF) for residential builders and Insurance for NSW covering government agencies. The service ecosystem includes industry-specific Resource Hubs (Manufacturing, Health, Transport, Construction), Small Business Hub, Mental Health Hub, and Mental Health Claims Hub, all supported by self-service portals like the Attendant Care Portal and Construction Risks Portal. This multi-product architecture enables Icare to serve employers, injured workers, practitioners, builders, homeowners, and government agencies through integrated digital and human-assisted service delivery.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers Compensation Insurance
• Workers Insurance Policy Portal
• Workers Insurance Claims Portal
• Workers Care Program
• Lifetime Care
• CTP Care
• Dust Diseases Care
• Home Building Compensation Fund (HBCF)
• Insurance for NSW (Treasury Managed Fund)
• Attendant Care Portal
• Construction Risks Portal
• Employer Lookup Tool

Quantifiable outcome

• Construction industry has over 30% of NSW workers insurance claims
• +3 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Gallagher BassettcoreChannel Partner/ Reseller/ DistributorGallagher Bassett provides claims management solutions for property, motor vehicle, liability, health liability, visiting medical officer (VMO), and miscellaneous claims for all Treasury Managed Fund (TMF) agencies. Contact: [email protected], 1300 407 022.
• Allianz AustraliacoreChannel Partner/ Reseller/ DistributorAllianz provides claims management solutions for workers compensation claims for NSW Government agencies. Contact: 1300 788 946.
• EMLcoreChannel Partner/ Reseller/ DistributorEML provides claims management solutions for workers compensation claims for NSW Government agencies. Contact: 1800 469 931, [email protected].
• icare Specialist Claims Team (iSC)coreChannel Partner/ Reseller/ DistributoriSC provides claims management solutions for workers compensation claims for NSW Government agencies. Contact: [email protected], 1800 221 960.
• Royal Rehab (Kylie Chambers)coreImplementation/ SI/ Consulting PartnerRoyal Rehab runs the Strength2Strength program, a full-day group workshop for families and carers dealing with changes following traumatic injury. Available for carers and family members of Lifetime Care participants and Workers Care Program participants.
• UNSW (University of New South Wales)coreStrategic or Co-development PartnerUNSW developed the Carer's Way Ahead program in partnership with icare - a free online step-by-step program for families and carers supporting an adult with a brain injury. Available in multiple languages including Mandarin, Arabic, Korean, Vietnamese, Spanish, and Slovakian.
• Royal Rehab (NSW Spinal Outreach Service)coreImplementation/ SI/ Consulting PartnerRoyal Rehab's NSW Spinal Outreach Service provides the In-Voc vocational rehabilitation program for people with spinal cord injury admitted to specialist rehabilitation units in NSW.
• Approved Attendant Care Provider PanelcoreChannel Partner/ Reseller/ Distributoricare maintains a panel of approved attendant care providers with the skills and organizational capacity to deliver high quality services for people with severe injuries including brain and spinal cord injuries.
• Carers NSWminorImplementation/ SI/ Consulting PartnerCarers NSW is the peak non-government organization for carers in NSW. Partnered with icare to develop the Carer Journal as part of a mentoring initiative for carers.
• Carer GatewayminorOthersAustralian Government program providing free assistance to carers to locate available services and supports relevant to their needs. Referenced as a resource for families of icare participants.
• Agency for Clinical Innovation (ACI)minorStrategic or Co-development PartnerACI hosts the Vocational Intervention Program (VIP) background and current sustainability phase information for brain injury rehabilitation vocational services.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• WorkCover Queensland: Queensland's statutory workers compensation scheme operating under a similar fully-funded public model. Directly comparable in product mix (employer premiums, injury management, common law) and statutory monopoly structure, though Queensland also competes against private insurers for certain policy sizes.
• ReturnToWorkSA: South Australian statutory workers compensation authority providing employer coverage, claims management, and return-to-work services. Operates a single-state monopoly model highly analogous to icare, though with a smaller scheme footprint.
• WorkSafe Victoria: Statutory Victorian workers compensation insurer and scheme administrator. Operates the same core model as icare—mandatory employer coverage, claims management, return-to-work services, and severe injury support—serving a different state with comparable scheme scale.
• WorkCover WA: Western Australia's workers compensation and injury management regulator and scheme manager. Runs a comparable statutory model to icare covering WA employers, with similar premium calculation methodology and return-to-work focus.
• Comcare: Australian federal government workers compensation scheme covering Commonwealth employees, defense personnel, and federal jurisdiction employers. Directly comparable in product offering (workers comp premiums, injury management, rehabilitation) and statutory monopoly nature, but operates at federal rather than state level.

Broad incumbents

• Allianz Australia: One of Australia's largest general insurers, currently a contracted Claims Service Provider for icare's government agency workers compensation portfolio. Operates a broader general insurance portfolio including workers comp in competing states, making it both a partner and a structural peer.

Regional players

• Accident Compensation Corporation: New Zealand's no-fault accident compensation scheme covering all workplace, motor, and other injuries under a single statutory monopoly. Operates a similar integrated care-plus-compensation model to icare's Lifetime Care and Workers Care programs, but serves a different national jurisdiction.

Emerging players

• EML: Australian workers compensation and injury management claims administrator currently serving as a Claims Service Provider for icare's government segment. Comparable in claims management capabilities and worker support services, though operates as a private TPA rather than a statutory insurer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/icareNSW

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Icare