Home > Salary > Iceland > Insurance Contract Specialist
An insurance contract specialist is responsible for reviewing and analyzing insurance policies and contracts to ensure accuracy and compliance with regulatory requirements. They assess risk factors, terms, and conditions, and make recommendations for policy changes or enhancements. They also collaborate with underwriters and claims adjusters to resolve any discrepancies or issues that may arise during the policy lifecycle. Additionally, they provide guidance and support to clients regarding policy coverage, claims procedures, and policy renewals.
Estimated Yearly Salary: 8,586,906 ISK
Estimated Monthly Salary: 715,576 ISK
Estimated Weekly Salary: 165,133 ISK per week
Estimated Hourly Salary: 4,128 ISK per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 691,179 ISK
Estimated Weekly Salary: 159,503 ISK per week
Estimated Hourly Salary: 3,988 ISK per hour
Last revision of data: 2024-01-07
Estimated Yearly Salary: 60,104 USD
Estimated Monthly Salary: 5,009 USD
Estimated Weekly Salary: 1,156 USD per week
Estimated Hourly Salary: 29 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 8,586,906 ISK
Estimated Monthly Salary: 715,576 ISK
Estimated Weekly Salary: 165,133 ISK per week
Estimated Hourly Salary: 4,128 ISK per hour
By working as Insurance Contract Specialist a person can save up to 2,280 USD per month or 27,358 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.
Estimated Yearly Salary for Insurance Contract Specialist
Last revision of data: 2025-01-04
Data as of 2025
Random salary:
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Insurance Contract Specialist salary in Iceland
Average Yearly Salary of Insurance Contract Specialist in Iceland is approximately 8,586,906 ISK (60,104 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 Contract Specialist do?
An insurance contract specialist is responsible for reviewing and analyzing insurance policies and contracts to ensure accuracy and compliance with regulatory requirements. They assess risk factors, terms, and conditions, and make recommendations for policy changes or enhancements. They also collaborate with underwriters and claims adjusters to resolve any discrepancies or issues that may arise during the policy lifecycle. Additionally, they provide guidance and support to clients regarding policy coverage, claims procedures, and policy renewals.
Skills: insurance, contract specialist, risk assessment, policy analysis, compliance, claims processing
Job industry: Insurance
Job industry: Insurance
How much does Insurance Contract Specialist make?
Salary details
How much does Insurance Contract Specialist make?Estimated Yearly Salary: 8,586,906 ISK
Estimated Monthly Salary: 715,576 ISK
Estimated Weekly Salary: 165,133 ISK per week
Estimated Hourly Salary: 4,128 ISK per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 8,294,143 ISKEstimated Monthly Salary: 691,179 ISK
Estimated Weekly Salary: 159,503 ISK per week
Estimated Hourly Salary: 3,988 ISK per hour
Last revision of data: 2024-01-07Insurance Contract Specialist estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 60,104 USD
Estimated Monthly Salary: 5,009 USD
Estimated Weekly Salary: 1,156 USD per week
Estimated Hourly Salary: 29 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Country:
Salary comparison to National average
Iceland, a Nordic island country located in the North Atlantic Ocean, is known for its stunning natural landscapes and unique geological features. With a population of approximately 366,000 people, Iceland is one of the least densely populated countries in Europe. The country covers an area of about 103,000 square kilometers, making it the 18th largest island in the world.
Estimated national average yearly salary is 8,949,782 ISK (68,220 USD). Value indicated is pre-tax. Below graph shows estimated Insurance Contract Specialist job salary compared to average salary in Iceland.
Comparison shows that a person working as Insurance Contract Specialist in Iceland earns on average:
0.96 times the average salary (or 96% of average salary).
Estimated national average yearly salary is 8,949,782 ISK (68,220 USD). Value indicated is pre-tax. Below graph shows estimated Insurance Contract Specialist job salary compared to average salary in Iceland.
Comparison shows that a person working as Insurance Contract Specialist in Iceland earns on average:
0.96 times the average salary (or 96% of average salary).
Is Insurance Contract Specialist a well paid job?
Yes, our data show that Insurance Contract Specialist 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 Contract Specialist?
High salary for Insurance Contract Specialist would be somewhere between 9,445,597 ISK and 12,451,014 ISK. However this is an estimation based on Gaussian Distribution.How much can you save working as Insurance Contract Specialist 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: 8,586,906 ISK
Estimated Monthly Salary: 715,576 ISK
Estimated Weekly Salary: 165,133 ISK per week
Estimated Hourly Salary: 4,128 ISK per hour
By working as Insurance Contract Specialist a person can save up to 2,280 USD per month or 27,358 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 Contract Specialist
Norway is 83,900 USD
United Kingdom is 39,525 USD
Last revision of data: 2025-01-04Salary 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 increaseTop 10 highest salaries in Iceland
(101,519,791 ISK per year, pre-tax.)
2. Cardiologist
(84,892,494 ISK per year, pre-tax.)
(82,036,676 ISK per year, pre-tax.)
4. Neurosurgeon
(79,530,435 ISK per year, pre-tax.)
(79,217,486 ISK per year, pre-tax.)
(77,544,423 ISK per year, pre-tax.)
(77,443,218 ISK per year, pre-tax.)
(77,278,803 ISK per year, pre-tax.)
9. Oncologist
(77,260,671 ISK per year, pre-tax.)
(77,231,503 ISK per year, pre-tax.)
Data as of 2025Random salary:
Sales representative investments (14,373,696 ISK per year, pre-tax.)
Social worker (9,682,318 ISK per year, pre-tax.)
Quality control analyst biotechnology (10,202,777 ISK per year, pre-tax.)
Front end manager supermarket (5,153,155 ISK per year, pre-tax.)
Clergy member (3,640,243 ISK per year, pre-tax.)
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