Forsikringsakademiet

What Forsikringsakademiet does

Forsikringsakademiet (officially Forsikrings- og pensionsakademiet A/S, also known as FOAK) is a Danish insurance and pension industry-owned education and training institution founded in 1953 and headquartered at the Rungstedgaard campus in Rungsted Kyst, Denmark. The company delivers certification programs, continuing education, professional networks, consulting solutions, and a publishing operation for the entire Danish insurance and pension sector, serving employees across sales, advisory, claims handling, underwriting, compliance, and external partner functions such as agents and loss adjusters. FOAK is one of only three institutions approved by the Danish Financial Supervisory Authority (Finanstilsynet) to administer examinations under the EU Insurance Distribution Directive, and is also accredited by EFICERT (European, 2014) and Danmarks Akkrediteringsinstitution (Danish, 2020).

The institution operates two proprietary digital platforms: Krydsfeltet, a sector-wide IT-based education platform launched in 2006 that integrates with corporate HR and competency management systems across member companies, and FOAKlearn, a Moodle-Workspace-based digital learning platform launched in 2022 offering more than 40 courses with digital badge certification. Course delivery follows a blended model combining self-paced digital learning, study-group collaboration, virtual kickoff sessions, and in-person campus residencies at Rungstedgaard. The Brancheuddannelse i forsikring og pension, effective January 1, 2026, extends FOAK's role by establishing a mandatory baseline competency program for all new sector hires. The company also operates an in-house publishing house producing specialist reference literature and an AI chatbot (FOAKbotten) that provides website content retrieval without collecting personal data.

FOAK generates revenue through course and certification fees (differentiated between shareholder and non-shareholder pricing), FOAKlearn digital subscriptions, IDD examination fees, bookstore sales delivered via PostNord, customized corporate training solutions, and conference and seminar events. The go-to-market is exclusively B2B, with companies enrolling employees through their designated uddannelsesansvarlige (education coordinators). Ownership rests with the Danish insurance and pension companies themselves, with curriculum and competency standards defined through the Academy Council (Akademirådet) and sector-specific advisory boards. The institution is led by CEO Helle Havgaard and has a workforce of 51-100 employees.

Name

Forsikringsakademiet

Legal name

Forsikrings- og pensionsakademiet A/S

Website

https://forsikringsakademiet.dk

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

51–100 employees

Short description

Forsikringsakademiet (FOAK) is the Danish insurance and pension industry's owned education institution, founded in 1953, delivering certifications, continuing education, digital learning, and IDD regulatory examinations to approximately 15,000 sector employees and member companies across Denmark.

Ownership category

akta.pro rank

Product category

Professional Insurance and Pension Education

NAICS

Educational Services (611), Educational Support Services (611710)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Insurance (EDAAAPAH)

akta.pro secondary industry

Insurance Literacy (Health, Auto, Home, Life) (EDAAAJAF)

Keywords

• Insurance education services
• Professional certification programs
• Pension industry training
• Regulatory compliance training
• Corporate learning platforms

Headquarters

HQ city

Rungsted

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Course and education fees: Companies pay enrollment fees for employees to attend courses and certification programs. Pricing is differentiated between shareholders (aktionær) and non-shareholders (øvrige). Fee ranges from approximately 32,960 DKK to 42,380 DKK per module depending on program and shareholder status.
2. Bookstore / Faglitteratur: Publishing house produces professional literature used in FOAK courses and as reference works in practice. Subjects include basic insurance knowledge, insurance law, personal insurance, commercial and private insurance, communication, economics, and administration. Books sold via website with PostNord delivery. 60 DKK processing fee per order.
3. FOAKlearn digital learning subscriptions: FOAKlearn digital learning platform offered via subscription, providing access to 40+ courses spanning from basic insurance knowledge to specialized sector topics. Companies can monitor employee competency development through reports and data exports.
4. IDD certification and examination fees: Approved examination provider for IDD (Insurance Distribution Directive) competency tests, storing results per regulatory requirements. Mandatory competency tests for approximately 15,000 employees in the Danish insurance and pension sector as of 2018.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Forsikringsakademiet is the industry-owned education and certification institution for the Danish insurance and pension sector, delivering accredited core programs (Finansuddannelsen), continuing education (Efteruddannelse), IDD regulatory certification, and custom corporate solutions through blended digital (FOAKlearn, Krydsfeltet) and campus-based learning at Rungstedgaard.

Product overview

Forsikringsakademiet (also known as FOAK and officially Forsikrings- og pensionsakademiet A/S) is an education and training institution for the Danish insurance and pension industry, founded in 1953. The organization operates as a platform-plus-services model offering a comprehensive portfolio of education programs, digital learning tools, certifications, and professional services. The core product is the Finansuddannelsen (finance education program) which includes certification-level modules in property insurance (skadeforsikring) and life/pension (liv og pension). Supporting the core education are two proprietary digital platforms: FOAKlearn (launched 2022, built on Moodle Workspace and integrated with Krydsfeldtet) offering over 40 online courses with digital badge functionality, and Krydsfeltet (launched 2006) serving as the industry-wide IT-based education platform. Additional offerings include IDD-certificering aligned with EU's Insurance Distribution Directive, continuing education courses (efteruddannelse), Power Skills (soft skills training), compliance training, customized consulting solutions, professional networking groups, seminars, and a physical campus at Rungstedgaard. The organization also operates a publishing house (Boghandel) producing professional literature and an AI chatbot (FOAKbotten) for website user support. In 2026, a new Brancheuddannelse (industry education) program takes effect for all newly hired employees in the sector.

Differentiator

Problem solved

Functional benefit

Brands

• FOAKlearn: Digital learning platform launched in 2022, offering over 40 courses for the insurance and pension industry, built on Moodle Workspace and integrated with Krydsfeltet.
• Krydsfeltet

Products and services

• FOAKlearn Digital Learning Platform A Moodle Workspace-based subscription digital learning platform with 40+ courses ranging from basic insurance knowledge to specialized insurance and pension topics. Includes digital badges, competency tracking dashboards, and data export for employer reporting. Sold to Danish insurance and pension companies as an enterprise subscription.
• Krydsfeltet Sector Education Platform Shared IT-based education platform serving the entire Danish insurance and pension industry. Provides cross-company competency tracking, blended learning delivery, and integration with corporate HR systems. Available to sector member companies.
• Finansuddannelsen (Core Finance Education Program)

Quantifiable outcome

• 15,000 employees required to meet IDD competency standards
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered minor and core.

• PostNordminorOthers · 1 January 2022PostNord handles delivery of books and study materials from FOAK's publishing house to customers. An order processing fee of 60 DKK applies per shipment.
• Finanstilsynet (Danish Financial Supervisory Authority)coreOthers · 1 January 2018FOAK is an approved IDD examination provider under the EU Insurance Distribution Directive, designated by Finanstilsynet. Jointly with IBA Erhvervsakademi and Finanssektorens Uddannelsescenter, FOAK maintains the shared register of employees who failed IDD examinations per regulatory requirements.
• IBA Erhvervsakademi and Finanssektorens UddannelsescentercoreStrategic or Co-development Partner · 1 January 2018Joint data controllers with FOAK for the shared IDD examination register. These three institutions are the approved providers of IDD competency tests in Denmark, as designated by Finanstilsynet. They share a common register of employees who have failed IDD examinations.
• Aalborg Universitet (Aalborg University)minorStrategic or Co-development Partner · 1 January 2011Partnership enabling employees with FOAK insurance education to enter directly into HD 2nd part (Economics and Management) at Aalborg University. First formal bridge between sector-specific insurance education and the university system. FOAK's Brobygningsforløb (bridging program) supports this pathway.
• Insurance and pension sector (Krydsfeltet platform)coreStrategic or Co-development Partner · 1 January 2006Krydsfeltet is a shared IT-based education platform for the entire Danish insurance and pension sector. Launched in 2006, it ensures consistent and high-quality education standards across all companies and employee functions. It integrates with corporate HR and competency management systems.
• Danish insurance and pension companies (shareholders)coreStrategic or Co-development Partner · 1 January 1953FOAK was founded and is owned by the Danish insurance and pension companies. The industry defines its own competency standards through the Academy Council (Akademirådet) and sector-specific advisory boards. Aalborg University partnership (2011) allows FOAK graduates to enter HD 2nd part studies. IBA Erhvervsakademi and Finanssektorens Uddannelsescenter are joint data controllers for the IDD examination register under Finanstilsynet requirements.

Scale indicators4 records

Recent moves12 records

Expansion highlights5 records

Broad incumbents

• LinkedIn Learning: Enterprise-focused online learning platform offering professional skills courses including finance and insurance topics. Competes for HR training budgets at Danish insurers.
• Coursera: Global online learning platform offering insurance and financial services courses from universities. Represents the digital-learning competitive threat to FOAK's continuing education business model.
• Chartered Insurance Institute (CII): UK-based professional body offering insurance qualifications and continuing education globally. Comparable as a sector-specific accreditation and training institution, but operates at much larger scale and international footprint.
• The Institutes (Risk and Insurance Society): US-based provider of insurance and risk management designations (CPCU, ARM). Comparable as a sector-specific awarding and continuing education body, with overlapping IDD-like compliance training offerings.

Others

• Insurance Europe: European insurance and reinsurance federation that influences EU training standards including IDD. Comparable as a sector-level standards and policy body relevant to FOAK's regulatory positioning.
• Dansk Erhverv (Danish Chamber of Commerce): Danish business association providing vocational education across sectors including financial services. Comparable as a Denmark-based umbrella education and training organization potentially serving overlapping corporate customers.
• Aalborg Universitet (AAU): Strategic partner since 2011 enabling FOAK graduates to enter HD programs directly. Comparable as a higher-education institution in Denmark and represents both a partner and adjacent competitor for advanced insurance education.

Regional players

• NHH Norwegian School of Economics: Norwegian institution offering financial and insurance education in the Nordic region. Comparable as a Nordic regional provider of insurance and finance higher education and executive training.

Direct peers

• Finanssektorens Uddannelsescenter: Joint data controller with FOAK for the shared IDD examination register under Finanstilsynet. Provides competency training for the Danish financial sector and directly competes for the same pool of insurance and pension employees.
• IBA Erhvervsakademi: Danish business academy that co-administers the IDD examination register with FOAK and Finanssektorens Uddannelsescenter. Directly competes for IDD certification revenue and serves a similar insurance-sector student base in Denmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Forsikringsakademiet
• LinkedInlinkedin.com/company/forsikringsakademiet

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Forsikringsakademiet