Insurance Sales Representative salary in Iceland

Average Yearly Salary of Insurance Sales Representative in Iceland is approximately 7,593,099 ISK (52,900 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 Sales Representative do?

An insurance sales representative is responsible for selling insurance policies to individuals and businesses. They meet with potential clients to assess their insurance needs, explain different coverage options, and recommend suitable policies. Insurance sales representatives must have a thorough understanding of various insurance products, including life, health, auto, home, and commercial insurance. They need to stay updated on industry trends, regulations, and changes in insurance policies to provide accurate information to clients. Building and maintaining relationships with clients is crucial in this role, as insurance sales representatives often handle policy renewals and address any questions or concerns. Strong communication and negotiation skills are essential to effectively explain complex insurance terms, calculate premiums, and convince clients to purchase insurance. Additionally, insurance sales representatives may be required to meet sales targets and generate leads.

Skills: Insurance sales, Sales representative, Insurance policies, Client relationship management, Insurance products, Sales targets.
Job industry: Insurance

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

Yes, our data show that Insurance Sales Representative 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 Sales Representative?

High salary for Insurance Sales Representative would be somewhere between 8,352,409 ISK and 11,009,994 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Insurance Sales 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: 7,593,099 ISK
Estimated Monthly Salary: 632,758 ISK
Estimated Weekly Salary: 146,021 ISK per week
Estimated Hourly Salary: 3,651 ISK per hour
By working as Insurance Sales Representative a person can save up to 1,680 USD per month or 20,154 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 Sales 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.

Top 10 highest salaries in Iceland

Data as of 2025

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