Visual Cryptography is a cryptographic technique that involves encrypting images in such a way that decryption can be performed visually without the need for complex computations. This technique holds significant importance in secure image sharing, as it ensures that sensitive visual information remains confidential during transmission. Recognizing this significance, a novel approach named Self-Improved Gold Rush Optimization (SIGRO)-based Visual Cryptography has been proposed in this research. This approach encompasses two main phases: Embedding and Extraction. It involves encrypting three original images and two secret images using various encryption techniques such as Random grid-based secret image sharing, Extended Visual Cryptography Scheme (EVCS), and Kronecker product-based encryption, along with the integration of security measures like Modified HMAC-based One-Time Password generation technique (MHOTP) for Improved Elliptic Curve Cryptography (IECC)-based encryption and Baker's map-based encryption. In Kronecker product-based encryption stage, the SIGRO algorithm is utilized to generate optimal keys for encryption purposes. The SIGRO algorithm is proposed as a well-versed approach than the conventional Gold Rush Optimization (GRO) algorithm, incorporating three key enhancements. These enhancements significantly contribute to the efficacy and reliability of the SIGRO algorithm in generating optimal keys for Kronecker product-based encryption. Furthermore, the IECC-based encryption utilizes the MHOTP generation technique, where the OTPs generated by this technique serve as the keys for this encryption stage, enhancing the ECC algorithm into an IECC algorithm. The decryption process involves reversing the steps applied during various encryption stages. This proposed approach's significance lies in its ability to enhance security through a combination of encryption methods and security measures.