ICBC.com

2008 — 2010 Service Plan

Highlights

Purpose

ICBC's 2008 — 2010 Service Plan provides an overview of the corporation's three-year plan to meet its responsibilities for providing auto insurance, and driver and vehicle licensing services.

This Service Plan discusses the continued evolution of our Corporate Strategy, which focuses on customer service, financial responsibility, operational excellence, and attracting and retaining high performing capable and engaged people.

ICBC Overview

ICBC is a provincial Crown corporation established in 1973 to provide universal auto insurance to BC motorists. ICBC also competes for optional auto insurance business. As part of its mandate, ICBC provides driver licensing and vehicle licensing and registration services on behalf of the province. ICBC is currently one of BC's largest corporations with approximately $12 billion in assets.

Strategic Context and Key Strategic Issues

Insurance is a complex business impacted by many external trends, factors and risks. This section describes the state of the property and casualty industry in Canada and the current issues facing auto insurers. The BC Utilities Commission is the independent regulator responsible for the setting of ICBC's basic rates. ICBC's Board of Directors is accountable for decisions relating to optional insurance rates.

Goals, Objectives, Strategies and Performance

ICBC's vision is to be "BC's preferred auto insurer, providing protection and peace of mind." The achievement of the vision is articulated through a strategy that has four corporate goals:

Customer Focus
Financial Responsibility
High Performing, Engaged and Capable People
Operational Excellence

For each goal, specific objectives are established to guide the Corporation. Measures are defined and targets are set to enable performance to be measured for these goals and objectives.

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