Insurance Agent salary in Iceland

Average Yearly Salary of Insurance Agent in Iceland is approximately 7,804,016 ISK (54,840 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Insurance Agent do?

An insurance agent is a professional who works for an insurance company or brokerage firm to assist clients in finding suitable insurance policies that meet their specific needs. They are responsible for explaining various insurance options, policies, and coverage details to clients, as well as helping them understand the terms and conditions of their policies. Insurance agents also handle policy renewals, claims, and any modifications or updates required by clients. They may conduct risk assessments, analyze insurance applications, and provide recommendations based on individual circumstances. Additionally, insurance agents often build and maintain relationships with clients, ensuring excellent customer service and addressing any concerns or inquiries.

Skills: Insurance agent, Insurance sales, Policy advisor, Risk assessment, Customer service, Claims handling
Job industry: Insurance

How much does Insurance Agent make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Insurance Agent a well paid job?

Yes, our data show that Insurance Agent is an averagely well paid job that still allows for some yearly savings. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Insurance Agent?

High salary for Insurance Agent would be somewhere between 8,584,418 ISK and 11,315,823 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Insurance Agent in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 7,804,016 ISK
Estimated Monthly Salary: 650,335 ISK
Estimated Weekly Salary: 150,077 ISK per week
Estimated Hourly Salary: 3,752 ISK per hour
By working as Insurance Agent a person can save up to 1,841 USD per month or 22,094 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Insurance Agent

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Iceland

Data as of 2025

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