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.
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 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."
He said 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 said icare was committed to implementing an improvement program based on more than 100 recommendations made in an independent review by retired Supreme Court judge Robert McDougall.
Last year, Mr Harding became one of the highest paid public servants in the state, after receiving a pay bump which took his salary to more than $1 million.
Unions NSW secretary Mark Morey said it was not time for icare to start self-congratulating.
"It's important to remember what a low base this organisation is coming off," Mr Morey said.
"It's a little early for icare to be doing a victory lap when its performance still falls well short of what injured workers and employers expect and require of the organisation."
Also appearing before the inquiry on Wednesday were several high-ranking partners from big four consultancy firm Deloitte.
Deloitte Australia chairman Tom Imbesi said the company would be willing to appear before more government inquiries and budget estimates to improve transparency and public confidence.
"If we're delivering a project for government and we're providing advice or a report in relation to a project...we should be very open and willing to come and talk to government," he said.
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