Bjorn Sandqvist serves as the Director, Vice President and Head of AI, Portfolio Management & Pricing for Private Lines DK at Tryg, where he spearheads data science and AI initiatives to enhance profitability and drive growth in the insurance sector.
From Actuarial Precision to AI Innovation: Blueprint for Modern Insurance Excellence
Bjørn Sandqvist’s career is a masterclass in bridging tradition with transformation. Over two decades in Nordic insurance, he has evolved from a non-life actuary to a visionary leader, harnessing artificial intelligence (AI) and machine learning (ML) to redefine profitability, risk and customer value. His journey—rooted in actuarial rigor but propelled by data science—exemplifies how the insurance industry can marry analytical precision with cutting-edge innovation.
The Actuary Who Became an AI Architect
Sandqvist’s actuarial foundation, honed at Codan, laid the groundwork for his analytical rigor. As a reserving actuary, he mastered risk prediction and financial stability, skills that later anchored his approach to portfolio strategy. His transition into leadership roles—head of Financial Planning and Analysis and then Chief Pricing Officer at Tryg— revealed his knack for translating data into business insights.
At Tryg, Sandqvist’s impact has been transformative. As VP, Head of AI, Portfolio Management & Pricing for Private Lines DK, he oversees €1 billion+ in annual premiums, steering profitability for Denmark’s private insurance lines. His mandate? To balance growth and risk using machine learning, predictive analytics and real-time data automation. Under his leadership, Tryg has slashed time-to-market for pricing initiatives by 50 percent, deployed AIdriven customer lifetime value models and embedded A/B testing into pricing strategies—all while managing a 30-person team.
The Data-Driven Profitability Engine
Insurance isn’t just about mitigating risk for Sandqvist. It’s about predicting it with surgical accuracy. He believes modern insurance profitability demands more than traditional actuarial methods, requiring a combination of data science, market intuition and agile execution. His teams use open-source tools and cloudbased analytics to develop dynamic pricing models that adapt to real-time market shifts and customer behavior.
A signature achievement lies in customer-centric innovation. By integrating churn prediction models, fraud detection algorithms and price sensitivity analyses, Sandqvist has turned Tryg’s pricing engine into a growth driver. These models don’t just optimize premiums—they personalize them, ensuring competitiveness without sacrificing margins. His focus on “analytics-as-a-service” ensures insights flow seamlessly from data warehouses to frontline decisions.
Leading at the Intersection of Tech and Business
Sandqvist’s leadership blends technical excellence and cross-functional collaboration. A former member of Tryg’s Group Finance Management team, he speaks the language of CFOs and IT architects, making sure AI solutions align with financial targets and operational realities. His adoption of SAFe/Agile fosters a culture where rapid experimentation meets disciplined execution.
What sets him apart is his humancentric approach to technology. While advocating for automation, he insists on preserving the “why” behind the data. His early-warning KPI systems empower teams to preempt risks, blending predictive analytics with human expertise.
Redefining Insurance’s Future
Looking ahead, Sandqvist envisions an industry where AI anticipates decisions. He champions “portfolio intelligence”— optimizing risk appetite, market dynamics and customer lifetime value through ML. Sustainability and hyper-personalization are next, with plans to embed ESG factors into pricing and claims.
Under his guidance, Tryg is pioneering real-time data lakes and API-driven integrations, ensuring underwriters and marketers operate with the freshest insights. For Sandqvist, the future of insurance lies in agility. Companies that turn data into action faster than their competitors—without losing sight of the human element— will be the winners.
A Legacy of Analytical Leadership
By grounding AI in actuarial discipline and fostering teams that blend technical prowess with business savvy, he’s not just modernizing Tryg—he’s setting a benchmark. In his hands, data is the compass guiding insurers toward more innovative risks, deeper customer relationships and sustainable profit.
He often reminds his team—our job isn’t to predict the future. It’s to shape it. That future is already here— driven by bytes, brains and boundless curiosity.
