Insurance Claims Analyst salary in Iceland

Average Yearly Salary of Insurance Claims Analyst in Iceland is approximately 10,660,618 ISK (74,614 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 Claims Analyst do?

An insurance claims analyst is responsible for evaluating and processing insurance claims to determine coverage and settlement amounts. They review policy terms, investigate the circumstances of the claim, and gather necessary documentation to make informed decisions. Insurance claims analysts analyze the validity of claims, assess damage or loss, and negotiate settlements with policyholders or third-party claimants. They collaborate with adjusters, legal teams, and other professionals to ensure accurate and timely claim resolution. Additionally, they may conduct interviews, inspect damaged property, and assess liability to determine the appropriate course of action. Strong analytical skills, attention to detail, and knowledge of insurance policies and regulations are essential for success in this role.

Skills: Insurance claims, Claims analysis, Claim settlement, Policy evaluation, Loss assessment, Risk management.
Job industry: Insurance

How much does Insurance Claims Analyst make?

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


Want to check how your salary compares? Submit your own salary here

Salary comparison to National average

Is Insurance Claims Analyst a well paid job?

Yes, our data show that Insurance Claims Analyst 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 Claims Analyst?

High salary for Insurance Claims Analyst would be somewhere between 11,726,680 ISK and 15,457,896 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Insurance Claims Analyst 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: 10,660,618 ISK
Estimated Monthly Salary: 888,385 ISK
Estimated Weekly Salary: 205,012 ISK per week
Estimated Hourly Salary: 5,125 ISK per hour
By working as Insurance Claims Analyst a person can save up to 3,489 USD per month or 41,868 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 Claims Analyst

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

Random salary:
Equipment engineer (14,674,231 ISK per year, pre-tax.)
Sports nutritionist (7,908,027 ISK per year, pre-tax.)
Legal advisor (14,993,121 ISK per year, pre-tax.)
Vice president (vp), ecommerce (35,515,766 ISK per year, pre-tax.)
Java web software developer (10,596,780 ISK per year, pre-tax.)

Feedback about these results