iCare Insurance

What iCare Insurance does

iCare Insurance (legal name iCare Insurance Brokers Ltd.) is a family-owned independent insurance brokerage headquartered at 3790 Canada Way in Burnaby, British Columbia. The company serves individuals, homeowners, and small-to-medium businesses across the Lower Mainland of Vancouver, offering home, auto, and business insurance products including ICBC Autoplan, private auto, tenant, condo, rental, strata, seasonal property, commercial property, professional liability, builders risk, directors & officers, and fleet/garage coverage. Its roots trace back to a family brokerage established in the early 1970s; the current entity was formed in 2006 as Comprehensive Insurance Brokers Ltd. by Tom Siracusa and Karen Matheson with partners, and was rebranded to iCare Insurance in Fall 2011.

The business operates on a commission-based brokerage model, earning transaction fees from insurance carriers (including ICBC and private insurers such as Family Insurance) for placing and maintaining policies. It does not build proprietary technology; operations run on standard broker infrastructure including PowerBroker Agency Management System and ICBC PolicyCenter for transaction processing. Distribution combines in-person office visits, phone-based inside sales (Mon-Fri 9am-5:30pm, Sat 9am-5pm), and online quote requests, supported by a content marketing channel via the TakeCARE blog. Customer acquisition is relationship- and referral-driven, emphasizing multi-decade client retention across a horizontal segmentation spanning personal and commercial lines.

The company is co-owned by President and Managing Partner Tom Siracusa and Co-owner & Managing Partner Karen Matheson, who together bring over 50 years of combined insurance experience. Operating geographies are limited to British Columbia with a regional focus on the Lower Mainland (Horseshoe Bay to Langley). There are no disclosed funding rounds, acquisitions, subsidiaries, patents, AI/ML capabilities, or mobile applications; the firm is a traditional, relationship-led brokerage competing on service quality and carrier access rather than technology differentiation.

Name

iCare Insurance

Legal name

iCare Insurance Brokers Ltd.

Website

https://icareinsurance.ca

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

1–10 employees

Short description

iCare Insurance Brokers Ltd. is a family-owned independent insurance brokerage in Burnaby, BC, serving individuals, homeowners, and small-to-medium businesses across the Lower Mainland with home, auto, and commercial insurance products distributed via ICBC Autoplan and private carriers.

Ownership category

akta.pro rank

Headquarters

HQ city

Burnaby

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: As an independent insurance broker, iCare Insurance earns commissions from insurance carriers (including ICBC and private insurers) for placing and maintaining insurance policies. Revenue is generated from commissions on auto, home, and business insurance policies sold and renewed.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

iCare Insurance is an independent insurance brokerage in Burnaby, BC that places and services home, auto, and business insurance policies for individuals and small-to-medium businesses across the Lower Mainland of Vancouver. As a licensed ICBC Autoplan broker and appointed agent with multiple private insurance carriers, the firm provides quote consultation, policy placement, renewals, and active claims advocacy for personal and commercial clients.

Product overview

iCare Insurance is a full-service insurance brokerage serving the Lower Mainland of BC since the 1970s. Their product portfolio consists of three core insurance categories: Home Insurance (covering homeowners, condos, tenants, rental properties, strata/duplexes, and seasonal properties), Auto Insurance (including ICBC Autoplan, private auto, transportation/prorate, and garage/fleet coverage), and Business Insurance (encompassing small business, professional liability, commercial property, errors & omissions, builders risk, directors & officers, industry-specific coverage, and contractors/tradesmen insurance). The company operates as an independent broker, allowing them to offer personalized insurance solutions from multiple providers.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Insurance Comprehensive home insurance coverage for homeowners, condo/townhome owners, tenants, rental properties, strata/duplex properties, and seasonal properties in the Lower Mainland of British Columbia. Pairs clients with multiple private carriers to find tailored coverage and pricing.
• Auto Insurance Vehicle insurance encompassing ICBC Autoplan mandatory basic coverage, private auto insurance, transportation and ICBC prorate coverage, and garage/fleet insurance for personal and commercial vehicles. Delivered via in-office, phone, mailed, and online channels.
• Business Insurance Commercial insurance solutions for small and medium-sized businesses and professionals, including liability, commercial property, errors & omissions, builders risk, directors and officers, industry-specific coverage, and contractors and tradesmen packages.
• ICBC Autoplan Mandatory basic auto insurance coverage required for all British Columbia vehicle owners, distributed through iCare's licensed Autoplan broker relationship with ICBC. Incorporates the new driver-based pricing model using driving experience and crash history.
• Private Auto Insurance Optional automobile coverage sourced from private insurers, offering discounts for driving history, vehicle type, location, and safety features including one-accident forgiveness.
• Transportation and ICBC Prorate Insurance Specialized insurance for trucking and transportation companies, including ICBC prorate account management and coverage for commercial vehicles traveling outside British Columbia.
• Garage and Fleet Insurance Insurance for businesses operating multiple vehicles, repair garages, service stations, body shops, and automobile dealers, with fleet discounts up to 63% for businesses with 5 or more vehicles.
• Homeowners Insurance Coverage for detached single-family homes including standard, comprehensive, and high-value policies (homes over $1,000,000) with discount options for claim-free history, monitored alarms, loyalty, seniors, mortgage-free, and new homes.
• Condo and Townhome Insurance Insurance for condominium and townhome owners covering unit improvements, additional living expenses, and strata deductible exposure.
• Tenant and Renters Insurance Coverage for tenants protecting contents and providing additional living expenses if a unit requires repairs due to fire or water damage; referenced at approximately $1 per day as a general guideline.
• Rental and Investment Property Insurance Landlord insurance covering building or condo units, landlord's contents, rental income loss for 12 to 24 months, water damage, bylaws, and earthquake coverage.
• Strata and Duplex Insurance Insurance for strata duplex properties covering the original structure, liability for the strata, individual unit contents, and compliance with the Strata Property Act of British Columbia (minimum $2 million liability coverage).
• Seasonal Property Insurance Coverage for vacation homes and seasonal properties, including stand-alone policies or secondary location coverage with winterization considerations.
• Small Business Insurance Insurance solutions for small businesses covering company assets, inventory, operations, and business-specific risks.
• Builders Risk Insurance Coverage for construction sites, buildings under construction or renovation, materials, equipment, and installation work against vandalism, theft, flood, windstorm, and earthquake damage.
• Contractors and Tradesmen Insurance Specialized insurance for contractors and tradesmen covering business liability, course of construction, equipment rental, installation floater, tools and equipment, and wrap-up liability.
• Industries Insurance Insurance coverage for manufacturers, wholesalers, distributors, and importers/exporters, including business interruption, equipment breakdown, product recall, and transit coverage.
• Commercial Property Insurance Coverage for commercial buildings protecting revenue-generating capacity, with rental income coverage, boiler and machinery coverage, and by-law enforcement costs.
• Directors and Officers Insurance D&O insurance protecting board members, directors, and officers from lawsuits arising from business decisions, covering legal defense costs, wrongful employment practices, and shareholder claims.
• Professional Liability Insurance (Errors and Omissions) Professional liability coverage (also known as errors & omissions) protecting professionals such as accountants, architects, doctors, engineers, and lawyers from claims of professional negligence, including libel, slander, misrepresentation, and inaccurate advice.

Quantifiable outcome

• Fleet plan discounts of up to 63% available for businesses with 5+ vehicles
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• ICBC (Insurance Corporation of British Columbia)coreChannel Partner/ Reseller/ DistributorICBC is the provincial auto insurer providing mandatory basic Autoplan coverage. iCare Insurance is a licensed Autoplan broker that sells ICBC basic and optional coverage alongside private insurance alternatives. This is the core product line for the brokerage's auto insurance business.
• Family InsurancecoreChannel Partner/ Reseller/ DistributorPrivate auto insurance provider mentioned as offering optional coverages with discounts. iCare offers Family Insurance as part of their private auto insurance options for customers seeking better coverage and premium savings.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Hub International: Large North American insurance brokerage with a significant Western Canadian presence. Overlaps with iCare in personal and commercial placement and brokerage services, though it is a far larger, multi-line platform rather than a focused Lower Mainland boutique.
• Intact Financial Corporation: Canada's largest property and casualty insurer, distributing through both direct and broker channels. Adjacent competitor to iCare in auto and home underwriting selection via its subsidiary brands, and competes for the same British Columbia households and small businesses.
• Aviva Canada: Major Canadian property and casualty carrier distributing personal and commercial products through brokers including those in BC. Competes indirectly with iCare at the carrier selection step of the brokerage workflow.

Direct peers

• BrokerLink: One of Canada's largest independent insurance brokerages offering personal and commercial coverage across provinces including BC. Operates on the same independent broker model of placing business with multiple carriers, making it a direct comparator for iCare's go-to-market.
• Billyard Insurance Group: Canadian insurance brokerage franchise operating across Ontario and Western Canada including BC. Directly comparable as a multi-producer independent broker placing home, auto, and commercial policies through multiple carriers for similar SMB and personal client profiles.
• Western Financial Group: Western Canadian insurance and financial services brokerage with deep roots across BC, Alberta, and Saskatchewan. Comparable as a regional independent broker serving personal and small commercial customers with similar product breadth to iCare.
• Westland Insurance Group: Canada's largest independent brokerage headquartered in British Columbia. Comparable as a Western Canada-rooted independent broker placing personal and commercial lines through multiple carriers, directly competing for the same Lower Mainland customers and businesses as iCare.

Emerging players

• Surex Insurance: Canadian digital-first insurance brokerage placing home and auto coverage with multiple carriers across provinces including BC. Competes with iCare on the same customer cohorts using a lower-touch digital model rather than a relationship-driven office presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/icare-insurance-brokers-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 Insurance