Byggmesterforsikring

Name

Byggmesterforsikring

Legal name

Byggmesterforsikring AS

Website

https://bmf.no

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Construction Industry Insurance

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Surety & Bond Brokerage (FSAEADAI)

akta.pro secondary industries

Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH), Contract Surety Bonds (FSAJAIAA), Contractors BOP / Artisan Package (FSAJAFAD)

Keywords

• Construction industry insurance
• Contract guarantee products
• Occupational pension plans
• Builder's risk coverage
• Norwegian construction financial services

Headquarters

HQ city

Ski

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance agency commissions: Byggmesterforsikring operates as a licensed insurance agent (forsikringsagent) for Byggmesterforbundet, earning commissions on insurance premiums placed with partner insurance companies including Protector Forsikring, Vis Forsikring, Vitec Forsikring, GarBo Försäkring, and Youplus Livsforsikring. The company acts as an intermediary between construction businesses and insurance underwriters.
2. Pension product distribution (Duvi Pensjon): Byggmesterforsikring acts as an agent for Duvi Pensjon, distributing occupational pension (OTP) products to construction industry employers. Revenue is generated through agent commissions on pension savings contributions (minimum 2% of salary as required by Norwegian law). The company also offers supplementary disability insurance (uførepensjon) as an add-on.
3. Guarantee products (contract guarantees): The company issues various guarantee products including contract guarantees (kontraktsgarantier) under Bustadoppføringslova, advance payment guarantees, payment guarantees, and builder's guarantees. These are financial guarantees issued to protect parties in construction contracts. Revenue is generated through guarantee premiums/fees charged to the construction companies requiring the guarantee.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Byggmesterforsikring is a licensed Norwegian insurance agency (forsikringsagent) that sells tailored business and private insurance, contract and statutory construction guarantees, and mandatory occupational pension (OTP via Duvi Pensjon) to companies and individuals connected to the Norwegian construction industry. The company acts as an intermediary placing policies with partner underwriters (Protector, Vis, Vitec, GarBo, Youplus) and earning commissions, while issuing guarantee instruments such as Bustadoppføringslova contract guarantees, contractor guarantees, advance payment guarantees, and payment guarantees for construction projects.

Product overview

Byggmesterforsikring is a construction industry insurance broker offering a comprehensive portfolio of insurance and guarantee solutions. The core offerings consist of Bedriftsforsikring (corporate insurance) and Privatforsikring (private insurance) for construction industry participants, supplemented by Innskuddspensjon/OTP pension services delivered through Duvi Pensjon, and Kontraktsgarantier (contract guarantees) including Bustadoppføringslova guarantees and Entreprenørgarantier. Additional specialized products include Andre garantier covering building kit purchases, client guarantees, advance payment guarantees, and payment guarantees. The company also offers Vilkårsgaranti Privat as a terms protection add-on for private insurance customers transitioning from other providers. All solutions are tailored for the Norwegian construction industry with compliance to Norwegian regulations including TEK17, NS standards (NS 8405, NS 8406, NS 8407), and bustadoppføringslova.

Differentiator

Problem solved

Functional benefit

Brands

• Duvi Pensjon: Pension savings solution offered through Byggmesterforsikring for mandatory occupational pension (OTP) for construction companies. Provides innskuddspensjon (defined contribution pension) and uførepensjon (disability pension) products.

Products and services

• Bedriftsforsikring (Business Insurance) Specialized business insurance portfolio for construction companies in Norway covering personnel insurance, building and liability insurance, vehicle and machinery insurance, and business and property insurance.
• Privatforsikring (Private Insurance) Comprehensive insurance solutions for private individuals connected to the construction industry, including personal insurance, travel and leisure insurance, vehicle and machinery insurance, and building and property insurance.
• Innskuddspensjon (OTP Occupational Pension via Duvi Pensjon) Mandatory defined contribution occupational pension (OTP) scheme for Norwegian construction employers, distributed via Duvi Pensjon, including investment portfolios and disability coverage.
• Kontraktsgarantier (Contract Guarantees) Legal guarantees protecting both clients and contractors against financial losses due to contract breach, fulfilling Norwegian legal requirements under Bustadoppføringslova and Norwegian standard contracts.
• Andre garantier (Other Guarantees) Extended guarantee solutions for the construction industry including building kit guarantees, client guarantees (byggherregaranti), advance payment guarantees (forskuddsgarantier), and payment guarantees (betalingsgarantier).

Quantifiable outcome

• 95% customer satisfaction rate for insurance solutions
• +5 more outcomes

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• ByggmesterforbundetcoreStrategic or Co-development PartnerByggmesterforbundet (Norwegian Master Builders Association) is the parent organization that 100% owns Byggmesterforsikring. The company was established by and for members of the association. Byggmesterforbundet provides a steady stream of member referrals and brand credibility. BMF is described as 'byggebransjens egen forsikringsløsning' (the construction industry's own insurance solution).
• Protector ForsikringcoreTechnology or IntegrationProtector Forsikring is one of the insurance companies whose products are distributed through Byggmesterforsikring as an insurance agent. It is listed as one of the primary insurance partners alongside Vis Forsikring, Vitec Forsikring, GarBo Försäkring, and Youplus Livsforsikring.
• Vis ForsikringcoreTechnology or IntegrationVis Forsikring (formerly Norsk Hussopp Forsikring) is one of the insurance companies whose products are distributed through Byggmesterforsikring as an insurance agent. Their IPID documents are available through BMF's website.
• Vitec ForsikringcoreTechnology or IntegrationVitec Forsikring is one of the insurance companies whose products are distributed through Byggmesterforsikring as an insurance agent.
• GarBo FörsäkringcoreTechnology or IntegrationGarBo Försäkring is a Swedish insurance company partnered with Byggmesterforsikring for distributing insurance products, particularly across Nordic markets.
• Youplus LivsforsikringcoreTechnology or IntegrationYouplus Livsforsikring is a life insurance company whose products are distributed through Byggmesterforsikring as an insurance agent.
• Duvi PensjoncoreTechnology or IntegrationByggmesterforsikring acts as an agent for Duvi Pensjon, distributing occupational pension (OTP) products to Norwegian employers. Duvi provides two standard investment portfolios (Langsiktig and Kortsiktig) and disability insurance supplements. BMF describes Duvi Pensjon as their pension solution provider with price guarantees for small and medium businesses.
• Kogstad Lunde & CominorImplementation/ SI/ Consulting PartnerKogstad Lunde & Co is listed as a partner, likely providing legal or financial consulting services supporting BMF's operations.
• Malermesterenes LandsforbundminorGTM or Marketing PartnerMalermesterenes Landsforbund (National Association of Master Painters) is a trade association partner that recommends BMF's insurance products to its member painters.
• MurmesterforbundetminorGTM or Marketing PartnerMurmesterforbundet (Norwegian Masons Association) is a trade association partner recommending BMF's products to its member masonry businesses.
• Bygghåndverk NorgeminorGTM or Marketing PartnerBygghåndverk Norge (Construction Craft Norway) is a trade association partner referring member businesses to BMF for insurance and guarantee solutions.
• E-HåndverkminorGTM or Marketing PartnerE-Håndverk (E-Trade) is a trade association for electrical and technical trades that partners with BMF to refer members for specialized insurance coverage.

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• GAR-BO Försäkring: Swedish specialty insurer focused on construction, renovation, and real estate insurance — offering builders risk, contractor liability, and project coverages closely analogous to BMF's Norwegian construction offering. Both serve as construction-industry specialists within their respective Nordic markets, sharing guarantee-heavy product mixes and trade-aligned distribution.

Others

• Vis Forsikring: Norwegian insurance company (formerly Norsk Hussopp Forsikring) providing household and property insurance — including building damage/fungal-related coverages relevant to construction. Functions as a BMF distribution partner (product supplier) rather than direct competitor in the trade-association channel.
• Protector Forsikring: Norwegian specialty insurer and one of BMF's primary carrier partners — Protector underwrites the insurance products BMF distributes. Acts as a supplier/carrier rather than direct competitor, but operates in the same Norwegian commercial-insurance ecosystem and could in theory build direct construction-specialty distribution.

Broad incumbents

• Fremtind Forsikring: Norwegian personal and commercial insurer owned by SpareBank 1 and DNB. Provides general insurance products including some commercial offerings for small businesses, including in the construction sector, but does not specialize in construction-guarantee work.
• If Skadeförsäkring: Leading Nordic P&C insurer (Sampo Group subsidiary) serving both consumer and commercial customers in Norway with construction-related business coverages. Indirectly competes for Norwegian construction SME insurance needs but is not construction-specialized.
• Tryg Forsikring: Major Nordic general insurer operating across Norway, Sweden, and Denmark, offering commercial and personal insurance lines including construction-related coverage. Overlaps with BMF on commercial construction insurance but competes from a broad multi-line portfolio rather than trade-association alignment.
• SpareBank 1 Forsikring: Norwegian personal and commercial insurer with banking-channel distribution across the SpareBank 1 alliance. Overlaps with BMF on commercial lines for small businesses including construction trades, but distributes through bank channels rather than trade associations.
• Gjensidige Forsikring: Largest Norwegian general insurer providing business, personal, and commercial insurance across Norway. Competes with BMF on commercial lines and construction business insurance, but lacks BMF's trade-association ownership and Norwegian construction-law (Bustadoppføringslova, NS standards) specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/byggmesterforsikringas
• LinkedInlinkedin.com/company/byggmesterforsikring-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Byggmesterforsikring