Eika Forsikring

What Eika Forsikring does

Eika Forsikring is a Norwegian insurance company founded in 1999 and headquartered in Hamar, Norway, operating as the insurance arm of the Eika Alliance — a network of approximately 50 local savings banks. The company distributes a comprehensive insurance portfolio spanning personal lines (car, home, travel, life, health, accident, pet), commercial lines (liability, cyber, business interruption, professional indemnity), and agricultural lines (livestock, farm buildings, crops, equipment), exclusively through Eika bank branches and a BankID-authenticated digital self-service portal (Min Side). Its core technology is a policy management and claims processing platform integrated with Norwegian BankID for secure authentication and electronic document signing, with ancillary integrations to SOS International (emergency assistance), Falck Helse (health claims), FirstVet (veterinary consultations), and Hurtigruta Carglass (auto glass repair).

Revenue is generated through recurring subscription premiums paid monthly or annually across all product lines, with pricing variations based on coverage tier, customer profile, and bundling discounts (10% collector discount for 3+ policies, up to 25% member discounts through partner organizations). The go-to-market combines bancassurance distribution via the Eika bank network, direct-to-consumer digital channels, and community-led partnerships with NJFF (~120,000 hunting and fishing members), Econa (~28,500 economist members), and Virke (25,000+ trade and service businesses). Customer segments include private individuals (primary), SMEs, agricultural businesses, young adults under 34, and hunting/fishing enthusiasts.

As of October 1, 2024, Eika Forsikring completed its merger with Fremtind Forsikring (approved by Finanstilsynet) and now operates under the Fremtind brand, owned jointly by SpareBank 1 Gruppen, DNB, and Eika Gruppen. The merger consolidates bancassurance distribution across Norway's three largest banking groups, with Hege Toft Karlsen serving as CEO of the combined entity.

Name

Eika Forsikring

Legal name

Eika Forsikring

Website

https://eikaforsikring.no

Company type

Private

Founded year

1999

Operating status

Acquired

Headcount range

101–250 employees

Short description

Eika Forsikring is a Norwegian insurance company (now operating as Fremtind post-October 2024 merger) distributing personal, commercial, agricultural, and pet insurance exclusively through the Eika Alliance network of 50 local banks and partner organizations across Norway.

Ownership category

akta.pro rank

Headquarters

HQ city

Hamar

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Property and Casualty Insurance: Core insurance products including vehicle (car, boat, motorcycle), home (house, cabin, contents), travel, and accident insurance. Premiums are paid annually or monthly with various coverage tiers.
2. Life and Health Insurance: Personal insurance products including life insurance, disability insurance, critical illness coverage, health insurance, and child insurance. Revenue from ongoing premiums and health assessment processes.
3. Agriculture Insurance: Specialized insurance for farming operations including buildings, livestock, equipment, crops, and agricultural machinery. Covers both property and liability risks specific to agricultural businesses.
4. Business/Commercial Insurance: Corporate insurance products including liability, business interruption, cyber, professional liability, and commercial property coverage for SMEs and organizations.
5. Pet Insurance: Insurance for dogs, cats, and horses covering veterinary expenses, illness, and accidents. Revenue from monthly or annual premiums.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Eika Forsikring (now operating as Fremtind following the October 2024 merger) provides a comprehensive portfolio of personal and commercial insurance products distributed through a network of approximately 50 Eika local banks across Norway. Core offerings span vehicle insurance (cars, motorcycles, boats, snowmobiles, tractors), home and property insurance (houses, cabins, contents), personal insurance (life, health, disability, critical illness, accident), pet insurance (dogs, cats, horses), commercial insurance (liability, cyber, business interruption), and specialized agricultural insurance (livestock, buildings, crops, equipment).

Product overview

Eika Forsikring (now operating as Fremtind following the October 2024 merger) is a Norwegian insurance company offering a comprehensive portfolio of personal and commercial insurance products distributed through a network of approximately 50 Eika local banks. The core product line spans vehicle insurance (cars, motorcycles, boats, ATVs, snowmobiles, tractors, etc.), home/property insurance (houses, cabins, contents), personal insurance (life, health, disability, critical illness, accident), and animal insurance (dogs, cats, horses). Business products include liability, commercial property, cyber, and transport insurance. Agricultural insurance covers livestock, buildings, equipment, and crops. The company also offers specialized member benefits through partnerships with NJFF (Norwegian Hunters and Anglers Association), Econa, and Virke. Insurance distribution is exclusively through Eika bank branches, with digital services accessible via Min side (My page) using BankID authentication.

Differentiator

Problem solved

Functional benefit

Products and services

• Bilforsikring (Car Insurance)
• Husforsikring (Homeowner Insurance)
• Innboforsikring (Home Contents Insurance)
• Hytteforsikring (Cabin Insurance)
• Reiseforsikring (Travel Insurance)
• Livsforsikring (Life Insurance)
• Helseforsikring (Health Insurance)
• Uføreforsikring (Disability Insurance)
• Kritisk sykdom (Critical Illness Insurance)
• Barneforsikring (Child Insurance)
• Hundeforsikring (Dog Insurance)
• Katteforsikring (Cat Insurance)
• Hesteforsikring (Horse Insurance)
• Ansvarsforsikring (Business Liability Insurance)
• Avbruddsforsikring (Business Interruption Insurance)
• Cyberforsikring (Cyber Insurance)
• Profesjons-ansvarsforsikring (Professional Liability Insurance)
• Næringsbyggforsikring (Commercial Building Insurance)
• Driftsbygning (Farm Building Insurance)
• Husdyrforsikring (Livestock Insurance)
• UNG-forsikring (Youth Insurance Package)
• Eika Pluss Premium Package
• Jakthundforsikring (Hunting Dog Insurance)
• Utstyrsforsikring (Hunting/Fishing Equipment Insurance)

Quantifiable outcome

• Up to 25% discount available through member benefit programs and policy bundling
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Partnerships

Ten partnerships are on record, tiered core and flagship.

• Fremtind ForsikringcoreStrategic or Co-development Partner · 1 October 2024Eika Forsikring has merged with Fremtind Forsikring effective October 1, 2024. The combined entity operates under the Fremtind brand. Fremtind is owned by SpareBank 1 Gruppen, DNB, and Eika Gruppen. The merger strengthens the 'insurance in bank' concept across DNB, SpareBank 1, and Eika banks.
• Norges Jeger- og Fiskerforbund (NJFF)flagshipGTM or Marketing PartnerNJFF has approximately 120,000 members in 550 local associations and 19 regional chapters. Eika provides member-exclusive discounts up to 25% on property insurance, specialized hunting dog insurance, and equipment insurance.
• EconaflagshipGTM or Marketing PartnerEcona is the interest and labor organization for economists with 28,500 members. Eika provides discounted property insurance, collective insurance terms, and affordable student insurance packages through econaforsikring.no.
• VirkeflagshipGTM or Marketing PartnerVirke is the main organization for Norway's trade and service industry, representing over 25,000 businesses with 300,000+ employees. Eika provides all property insurance products for member companies.
• SOS InternationalcoreTechnology or Integration24/7 emergency assistance center for road help abroad (+47 22 22 77 06) and medical emergencies during travel (+45 70 10 50 50). Provides global emergency response coordination.
• Falck HelsecoreTechnology or IntegrationHealthcare intermediary partner handling health insurance claims processing including medical services, physiotherapy, and psychology services through KRY video consultations.
• FirstVetcoreTechnology or IntegrationOnline veterinary service providing unlimited video consultations for insured pets. Available 24/7 for NJFF members with dog insurance. Users rate service 4.96/5.
• AXAcoreTechnology or IntegrationIncome insurance claims processing partner. Handles income protection insurance with 30-day waiting period before coverage begins.
• Hurtigruta CarglasscoreChannel Partner/ Reseller/ DistributorAuto glass repair partner for windshield damage claims. Available 24/7 at 24 24 11 66 or through carglass.no. Repairs at no deductible; replacements have 3,000 kr deductible.
• BankIDcoreTechnology or IntegrationNorwegian digital identity authentication system used for secure customer login, document signing, and identity verification across all digital services.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Fremtind Forsikring: The merged entity that absorbed Eika Forsikring in October 2024, owned by SpareBank 1 Gruppen, DNB, and Eika Gruppen. Now operates the combined bancassurance insurance book across DNB, SpareBank 1, and Eika bank networks.
• IF Skadeförsäkring: Leading Nordic P&C insurer (owned by Sampo Group) with significant Norwegian operations across personal, commercial, and agricultural lines. Directly comparable product portfolio and customer segments.
• Storebrand Forsikring: Major Norwegian financial group with significant life, pension, and personal risk insurance operations. Overlaps with Eika in life, health, critical illness, and disability insurance segments.
• Protector Forsikring: Norwegian P&C insurer specializing in commercial and niche segments including property, liability, and specialty lines. Comparable in serving Norwegian SMEs and offering commercial products alongside personal lines.
• Tryg Forsikring: Major Nordic P&C insurer with strong Norwegian presence across personal, commercial, and agricultural insurance. Competes head-to-head with Eika in vehicle, home, and business insurance.
• Frende Skadeforsikring: Norwegian bancassurance insurer owned by a consortium of regional savings banks. Closest direct comparable in the bancassurance distribution model and product mix (auto, home, personal lines).
• Gjensidige Forsikring: Norway's largest general insurance carrier offering personal and commercial P&C, health, and life products through its own distribution and partners. Most directly comparable competitor in the Norwegian retail and SME P&C market.

Broad incumbents

• DNB Forsikring: Insurance operations of Norway's largest bank, now part of Fremtind. Comparable bancassurance distribution and personal insurance products distributed through DNB's branch and digital channels.
• SpareBank 1 Forsikring: Insurance arm of the SpareBank 1 Alliance, now consolidated into Fremtind post-merger. Comparable bancassurance model and product portfolio; historically a direct counterpart to Eika Forsikring within the Norwegian savings-bank ecosystem.

Regional players

• Alka Forsikring: Danish P&C insurer with a bancassurance heritage (originally linked to union/association distribution). Comparable in business model and product breadth across personal and commercial lines, though operating in Denmark rather than Norway.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/eikaforsikring
• LinkedInlinkedin.com/company/eika-forsikring

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Eika Forsikring