Insurance Claims Representative salary in Iceland

Average Yearly Salary of Insurance Claims Representative in Iceland is approximately 6,798,720 ISK (47,626 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 Representative do?

An insurance claims representative is responsible for evaluating and processing insurance claims on behalf of policyholders. They review the claim, gather necessary information, assess coverage, and determine the validity of the claim. Their main objective is to ensure a fair and accurate settlement for all parties involved. Insurance claims representatives communicate with policyholders, witnesses, and other relevant parties to gather information and investigate the claim. They may also collaborate with adjusters, attorneys, and medical professionals to assess damages and negotiate settlements. Additionally, they document all claim activities, maintain records, and provide updates to policyholders throughout the process. This occupation requires strong analytical skills, attention to detail, excellent communication abilities, and a comprehensive understanding of insurance policies and procedures.

Skills: Insurance claims, Claims representative, Claims processing, Insurance industry, Claims evaluation, Settlement negotiation
Job industry: Insurance

How much does Insurance Claims Representative 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 Claims Representative a well paid job?

No, our data shows that Insurance Claims Representative is typically not a well-paid job. The salary varies based on experience. Meaning that even though Insurance Claims Representative might be a low paying job, with experience the salary might increase to satisfactory levels.

What is considered a high salary for Insurance Claims Representative?

High salary for Insurance Claims Representative would be somewhere between 7,478,592 ISK and 9,858,144 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Insurance Claims Representative 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: 6,798,720 ISK
Estimated Monthly Salary: 566,560 ISK
Estimated Weekly Salary: 130,745 ISK per week
Estimated Hourly Salary: 3,269 ISK per hour
By working as Insurance Claims Representative a person can save up to 1,240 USD per month or 14,880 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 Representative

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.

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Data as of 2025

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