2024
Year in Review
Customers are at the heart of everything we do. We’re excited to share some of the steps we’ve taken this year that we hope will improve your experience with ICBC.
Read the transcript
It’s been another busy year at ICBC — and my first year leading here— so I’m particularly proud to highlight some of the work we’ve been doing for you.
We know affordability is important — it’s why we worked to keep Basic rates stable for another year.
It’s also why, when we did better than expected with our financial investments, we returned $400 million in rebates to customers living across British Columbia.
We’ve been making lots of changes to help improve your customer experience too, like making our claims process more efficient and opening more driver licensing and road testing locations — so you have more choices and access for the services you need.
And while our journey towards Reconciliation is just beginning, we took big steps this past year when we created our first Reconciliation Action Plan.
These are just a few of the projects we’ve been working on. And while there’s always lots more work to do, we’re excited to share with you what we’ve accomplished so far, and we would love for you to explore what else we’ve been up to.
After all, it’s you — our customers — at the heart of everything that we do.
We know customers are concerned about affordability.
Insurance is no exception.
550,000+
customers received usage-based discounts in 2023/24.
We offer flexible insurance products, like our usage-based discounts, which offer savings on select coverages when customers drive less than 10,000 kilometres each year.
$110 rebate
Thanks to prudent financial management and investment income that exceeded our expectations, ICBC was able to issue a $110 rebate — our fourth in three years — to 3.6 million customers starting in late May 2024.
With this rebate, we introduced a dedicated phone line, a comprehensive web page and online tools for customers to check on their rebate status and payment method.
Basic rates will remain stable until March 31, 2026. That date will mark
6 years
with no increases.
100
,000+customers received usage-based discounts in 2023/24.
We offer flexible insurance products, like our usage-based discounts, which offer savings on select coverages when customers drive less than 10,000 kilometres each year.
$110 rebate
Thanks to prudent financial management and investment income that exceeded our expectations, ICBC was able to issue a $110 rebate — our fourth in three years — to 3.6 million customers starting in late May 2024.
With this rebate, we introduced a dedicated phone line, a comprehensive web page and online tools for customers to check on their rebate status and payment method.
Basic rates will remain stable until March 31, 2026. That date will mark
6 years
with no increases.
We know vehicle repairs are getting more complex, taking longer and costing more. We’ve made changes, including:
Introducing tools to better predict when a vehicle can or can’t be repaired, which result in faster claims processing and payments to customers
Easier and faster methods for customers to transfer vehicle ownership to ICBC when a vehicle can’t be repaired
More online submission options so that you can provide any claim-related documentation faster and with less effort
Improved online submission tools for ICBC partners like health care providers and repair facilities, so we’re communicating with them faster and more efficiently
We’re also introducing more online options for those customers who’ve been injured in a crash. Customers can now:
Submit travel, mileage and other expenses
Track the status of their expense submissions
Provide optional details about their injuries
Read the transcript
Reconciliation is a journey — and we’re just getting started.
With guidance and consultation from Indigenous voices, we took our first big steps this year by creating a Reconciliation Action Plan and named 18 concrete and measurable commitments for what we want to accomplish together.
And while we know these commitments will take time, we’re already moving forward.
We’ve started work on making our services more accessible for Indigenous customers — especially in remote communities. This means making spaces more welcoming and bringing services to them with our new Mobile Outreach Program.
We’re also making our work more accessible to Indigenous employees. By diversifying our talent pool with purposeful recruitment and retention strategies, we better serve not only Indigenous customers, but all people living in British Columbia.
And while our Reconciliation work is always evolving, with the leadership of a newly formed Indigenous Relations department, we move closer to fulfilling our commitments every day.
We’re happy to be sharing this journey with you, and we invite you to check in with us to see where we go.
This year, we updated our customer survey questions so that we can better understand how customers feel about ICBC and the services they receive.
We standardized and shortened our customer surveys, so you can quickly tell us what matters to you. This gives us more useful insights so that we better understand your priorities and needs.
Overall customer satisfaction for Autoplan services was 85%, indicating that people are generally satisfied with their insurance services. This exceeds our target by one percent.
We closely track if our improvements work for you, so we know where we’re succeeding and where there’s still work for us to do.
For driver licensing services, customer satisfaction was 74%, a percentage point shy of our 75% target. We’re working to increase service levels so customers can get the appointments they need, with shorter wait times.
Interested in making a better ICBC for all customers? Join the Insight Panel for a chance to make a difference and maybe win a prize!
Claims services reported a 75% satisfaction rate, exceeding the 72% target. We've been working on improving how we handle claims, and we're optimistic this rate reflects the impact of our early improvements.
0
,000,000This year, we invested $51 million into initiatives that help create safer roads, sidewalks, and communities across British Columbia
For every $1 invested by the Road Improvement Program, ICBC saved $4.50 in claims costs, based on a May 2024 evaluation of the program’s past projects.
ICBC's road safety strategy helps keep us all safe — whether we're driving, walking, rolling or cycling. It reduces crashes and claims costs, meaning more affordable insurance for all customers.
Did you know?
184
presentations to B.C. high school students about getting driver licences and staying safe as new drivers.
0
,000reflectors were handed out at 152 community events for pedestrian safety.
Did you know?
184
presentations to B.C. high school students about getting driver licences and staying safe as new drivers.
0
,000reflectors were handed out at 152 community events for pedestrian safety.
0
,000,000This year, we invested $51 million into initiatives that help create safer roads, sidewalks, and communities across British Columbia.
For every $1 invested by the Road Improvement Program, ICBC saved $4.50 in claims costs, based on a May 2024 evaluation of the program’s past projects.
ICBC's road safety strategy helps keep us all safe — whether we're driving, walking, rolling or cycling. It reduces crashes and claims costs, meaning more affordable insurance for all customers.
ICBC employees are proud to make a difference in the communities they serve, from Atlin to Osoyoos and everywhere in between.
We’re also working to reduce our environmental footprint as an organization across a variety of areas. Learn more about the progress we’re making in our Climate Change Accountability Report.
ICBC employees are proud to make a difference in the communities they serve, from Atlin to Osoyoos and everywhere in between.
In 2024, ICBC employees participated in the Kelowna, Vancouver and White Rock Pride Parades for the first time.
We're proud to support LGBTQ2S+ communities across B.C. Our 2SLGBTQIA+ Employee Resource Group helps ensure that everyone at ICBC feels comfortable expressing their gender identity and sexual orientation.
0
,000In 2023, employees raised more than $320,000 for the United Way and in 2024, more than $39,000 for BC Children's Hospital.
ICBC has a role to play in keeping everyone in B.C. safe and not just on the road. With more extreme weather in recent years, ICBC employees are ready to respond in the moment and over the long term.
During the devastating 2023 wildfires, we provided on-the-ground help for customers across the Central Okanagan region, visiting resiliency centres and working directly with affected customers.
ICBC saw a positive net income of nearly $1.4 billion in 2023/24, following a net loss in 2022/23, thanks to better-than-expected investment income.
Fewer injury claims and the savings introduced by Enhanced Care helped ensure that ICBC’s finances are in good shape.
This is a better outcome than was forecasted, mainly thanks to an upward trend in global markets and ICBC planning for a financial downturn that didn’t occur.
Thanks for reading!
The 2024 Year in Review outlines just some of the changes we’re making for more affordable auto insurance in British Columbia and a better ICBC experience for you.
We appreciate that you’ve taken the time to learn more about these changes, and we look forward to sharing next steps with you in the future.