One of the changes was to scrap the insurer's "imaginarium" office space, which cost up to $6 million and has been held up as an example of the outfit's gross financial mismanagement.
Current chief executive and managing director Richard Harding, who was brought in to replace the organisation's former leadership in 2021, faced a parliamentary inquiry into public sector consultant use on Wednesday.
Mr Harding said the organisation was a vastly different entity now as he faced questions over icare's past failures, including major holes in its disclosure of consultant spending.
The insurer, which manages the state's worker compensation scheme for more than 3.2 million public and private employees, has been plagued by allegations of mismanagement, including the leaking of reams of personal data.
"There's an enormous amount of work that's gone in over the last two years to bring us from where we were, to where we are today," Mr Harding said.
"We've made significant changes to our disclosure practices, to our approach to these things, to the culture of the organisation."
Mr Harding added that the controversial "imaginarium" had been repurposed as a disease clinic, where scans were performed on people with dust disease due to their workplaces.
"That enabled us to ... reutilise the space that the imaginarium took up and have that actually provide a service to injured people," he said.
"I hope that gives you some examples of how we're thinking differently as an organisation."
Mr Harding added icare was committed to implementing an improvement program based on over 100 recommendations made in an independent review by retired Supreme Court judge Robert McDougall.
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