Underwriting Administrator salary in Iceland

Average Yearly Salary of Underwriting Administrator in Iceland is approximately 11,362,865 ISK (79,192 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 Underwriting Administrator do?

An underwriting administrator is responsible for supporting the underwriting department of an insurance company or financial institution. Their primary role involves reviewing and assessing insurance applications, collecting necessary documentation, and ensuring compliance with underwriting guidelines and regulations. They communicate with agents, brokers, and clients to gather additional information and clarify any discrepancies. Underwriting administrators also assist in analyzing risk factors, determining premium rates, and preparing policy documents. They may handle policy endorsements, renewals, cancellations, and claim-related tasks. Attention to detail, strong analytical skills, and knowledge of insurance policies and procedures are essential for this role. Additionally, underwriting administrators must possess excellent organizational and communication abilities to effectively manage multiple tasks and maintain positive relationships with stakeholders.

Skills: underwriting administration, insurance industry, risk assessment, policy processing, compliance management, communication skills
Job industry: Insurance

How much does Underwriting Administrator make?

Difference in salary year over year or average salary increase is approximately 4 %


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

Salary comparison to National average

Is Underwriting Administrator a well paid job?

Yes, our data shows that Underwriting Administrator is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Underwriting Administrator?

High salary for Underwriting Administrator would be somewhere between 12,499,152 ISK and 16,476,154 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Underwriting Administrator 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: 11,362,865 ISK
Estimated Monthly Salary: 946,905 ISK
Estimated Weekly Salary: 218,517 ISK per week
Estimated Hourly Salary: 5,463 ISK per hour
By working as Underwriting Administrator a person can save up to 3,871 USD per month or 46,446 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 Underwriting Administrator

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:
Land surveyor supervisor (12,171,677 ISK per year, pre-tax.)
Product development intern (6,389,046 ISK per year, pre-tax.)
Senior support services technician (8,066,141 ISK per year, pre-tax.)
Access control installer (5,456,562 ISK per year, pre-tax.)
Emergency department technician (6,040,280 ISK per year, pre-tax.)

Feedback about these results