Underwriter Associate salary in Iceland

Average Yearly Salary of Underwriter Associate in Iceland is approximately 8,143,780 ISK (56,868 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 Underwriter Associate do?

An underwriter associate is a professional who works in the insurance industry, specifically in the underwriting department. Their primary responsibility is to assess the risk associated with insurance applications and determine the appropriate coverage and premium rates. Underwriter associates review policy applications, analyze data, and evaluate risk factors such as medical history, financial status, and previous claims. They collaborate with underwriters to make informed decisions regarding acceptance or rejection of insurance applications. Additionally, they may assist in preparing reports, maintaining records, and providing customer service.

Skills: underwriting, risk assessment, insurance industry, policy analysis, data analysis, customer service
Job industry: Insurance

How much does Underwriter Associate make?

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


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Salary comparison to National average

Is Underwriter Associate a well paid job?

Yes, our data show that Underwriter Associate 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 Underwriter Associate?

High salary for Underwriter Associate would be somewhere between 8,958,158 ISK and 11,808,481 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Underwriter Associate 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: 8,143,780 ISK
Estimated Monthly Salary: 678,648 ISK
Estimated Weekly Salary: 156,611 ISK per week
Estimated Hourly Salary: 3,915 ISK per hour
By working as Underwriter Associate a person can save up to 2,010 USD per month or 24,122 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 Underwriter Associate

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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