Why your iPhone photos are HEIC in the first place
HEIC is Apple's container for HEIF images encoded with HEVC. Apple switched to it in iOS 11 because it stores roughly the same visual quality as JPEG in about half the file size, and supports things JPEG can't: 16-bit color depth, transparency, image sequences, and depth maps for portrait mode.
The trade-off is compatibility. HEVC is patent-encumbered, so support outside Apple's ecosystem arrived late and unevenly. Windows needs a codec extension, most content management systems reject the format on upload, and plenty of web browsers still won't render it inline.