BrokerWeb Risk Services

What BrokerWeb Risk Services does

BrokerWeb Risk Services, operating under the legal name ICIB Limited, is a New Zealand-based independent insurance broker and risk advisory firm established in 1975 and headquartered in Auckland. The firm serves commercial enterprises across New Zealand, providing risk assessment, insurance product placement across multiple carriers, claims support, and compliance guidance under regulations such as the Health & Safety at Work Act. Its core product is the ICIB Core Insurance Brokerage offering, supplemented by Asian Business Services for Asian-owned enterprises, online claims processing, and online policy payment portals. The company operates a platform-plus-sub-brand architecture, retaining seven wholly-owned acquired broker brands — Paramount Insurance, Adelphi Insurance Brokers, AssureMe, Village Insurance, Caro&Co, Connect & Grow, and The Southern Group — each serving differentiated market segments under the ICIB umbrella.

The business model is commission-based: the firm acts as an intermediary between insurance providers and commercial clients, earning recurring commissions on placed policies with annual billing cycles. Distribution combines direct advisor consultations for complex commercial placements with self-serve digital channels for claims and payments, supported by a multi-brand channel structure. The firm is privately held with no disclosed external equity backing, maintains membership in the Insurance Brokers Association of New Zealand (IBANZ) and NZ Brokers, and is affiliated with AUB Group Australia/New Zealand for regional network access. No proprietary technology, AI/ML capabilities, patents, certifications, or named customer logos are disclosed in available source material, and revenue, headcount (reported as 1-10, likely understated), and funding data are not publicly available.

Name

BrokerWeb Risk Services

Legal name

ICIB Limited

Website

https://bwrs.co.nz

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Commercial insurance brokerage
• Risk advisory services
• Business insurance placement
• Risk management consulting
• Insurance claims support

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance brokerage commissions: Revenue generated through commissions from insurance product providers for placing business insurance policies. Acts as intermediary between insurance providers and commercial clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

BrokerWeb Risk Services (trading as ICIB) is a New Zealand independent insurance broker and risk advisor that places business insurance policies across multiple insurance providers on behalf of commercial clients. The firm combines direct advisor consultations with online claims and payment portals, supported by a portfolio of specialized sub-brands that target distinct market segments across the country.

Product overview

ICIB (Insurance Brokers) operates as a multi-brand insurance brokerage platform offering unified risk advisory and insurance solutions to New Zealand businesses since 1975. The core offering consists of ICIB Core Insurance Brokerage, Asian Business Services, Online Claims Processing, and Online Policy Payments, supported by a portfolio of sub-brands including Paramount Insurance, AssureMe, Village Insurance, Caro&Co, Connect & Grow, The Southern Group, and Adelphi Insurance Brokers. The platform also provides Resources & Tools including Client Advisories. The architecture is a platform-plus-sub-brand model where the ICIB umbrella provides shared services, expertise, and brand positioning while individual broker brands serve different market segments.

Differentiator

Problem solved

Functional benefit

Products and services

• ICIB Core Insurance Brokerage Core risk advisory and insurance brokerage service providing advice, support, and practical help with risk management and insurance needs for New Zealand commercial businesses.
• Asian Business Services Specialized insurance and risk advisory services for Asian businesses in New Zealand, delivered by a team with extensive insurance knowledge and long-term industry experience.
• Online Claims Processing Step-by-step online process that allows policyholders to submit and manage insurance claims through the ICIB website.
• Online Policy Payments Quick, easy online payment system allowing clients to pay insurance policy premiums through the ICIB website.
• Paramount Insurance Insurance broker sub-brand operating under the ICIB umbrella, providing differentiated market coverage to New Zealand businesses.
• Adelphi Insurance Brokers Insurance brokerage sub-brand operating under the ICIB umbrella, providing insurance placement and advisory services.
• AssureMe Insurance services sub-brand operating under the ICIB umbrella, serving New Zealand commercial clients.
• Village Insurance Insurance services sub-brand operating under the ICIB umbrella, providing insurance placement and advisory services.
• Caro&Co Insurance services sub-brand operating under the ICIB umbrella, providing insurance placement and advisory services.
• Connect & Grow Insurance sub-brand operating under the ICIB umbrella with a focus on supporting business growth through risk advisory and insurance placement.
• The Southern Group Insurance services sub-brand operating under the ICIB umbrella, providing insurance placement and advisory services.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• NZ BrokerscoreChannel Partner/ Reseller/ DistributorMember of NZ Brokers organization (nzbrokers.co.nz), representing one of New Zealand's leading independent risk advisors and insurance brokers.
• IBANZcoreChannel Partner/ Reseller/ DistributorMember of the Insurance Brokers Association of New Zealand (IBANZ), demonstrating professional standing and industry recognition.
• AUB GroupminorChannel Partner/ Reseller/ DistributorAffiliated with AUB Group Australia/New Zealand, a regional insurance broking network providing broader market access and resources.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Gallagher New Zealand (Arthur J. Gallagher): Arthur J. Gallagher is a global insurance brokerage and risk management firm with NZ operations. Comparable to BrokerWeb in commercial insurance brokerage and risk advisory, but at significantly larger scale and broader geographic reach.
• Aon New Zealand: Aon is a global insurance and reinsurance brokerage with a substantial New Zealand operation. Comparable as a competitor in NZ commercial insurance brokerage, but operates at vastly larger scale with global resources and a broader product portfolio.
• AUB Group: AUB Group is an Australasian insurance broking and advisory network of which BrokerWeb is already an affiliate. Comparable as a parent network model aggregating independent brokerages across Australia and New Zealand, providing capital, M&A capability, and carrier access to member firms.
• Marsh New Zealand: Marsh is a global insurance broker and risk advisor with a New Zealand office serving large commercial and corporate clients. Comparable as a NZ insurance broker competitor, though typically focused on larger enterprise accounts than BrokerWeb's SMB/mid-market focus.
• Steadfast Group: Steadfast is the largest Australasian general insurance broker network, aggregating hundreds of member brokerages across Australia and New Zealand. Comparable to BrokerWeb's AUB affiliation model; both are network aggregators enabling independent brokerages to access scale economies.
• WTW New Zealand (Willis Towers Watson): WTW is a global advisory, broking, and solutions firm with operations in New Zealand. Comparable as a competitor in NZ risk advisory and insurance brokerage, though focused on larger commercial and corporate clients.

Others

• NZ Brokers: NZ Brokers is a New Zealand network of independent insurance brokerages of which BrokerWeb is a member. Comparable as the industry network that provides collective bargaining, professional standards, and shared services to independent NZ brokers like BrokerWeb.

Direct peers

• Rothbury Insurance Brokers: Rothbury is a New Zealand-based insurance broker providing commercial and personal lines with multiple regional offices. Comparable to BrokerWeb as a domestic NZ broker competing for the same mid-market commercial insurance clients.
• Honan Insurance Group: Honan is an Australasian insurance brokerage specializing in commercial and specialty lines, with NZ presence. Comparable to BrokerWeb in product mix (commercial insurance brokerage) and target customer base (mid-market NZ/AU businesses).
• Crombie Lockwood: Crombie Lockwood is one of New Zealand's largest independent insurance brokerages, offering commercial and personal lines across the country. Directly comparable to BrokerWeb as a multi-brand, advisor-led NZ broker serving business clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Brokerweb-Risk-Services-421250967986792
• LinkedInlinkedin.com/company/brokerweb-risk-services
• Instagraminstagram.com/icib_brokerweb

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 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 BrokerWeb Risk Services