Underwriting Team Lead salary in Iceland

Average Yearly Salary of Underwriting Team Lead in Iceland is approximately 16,846,068 ISK (117,306 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 Team Lead do?

An underwriting team lead is responsible for overseeing and managing a team of underwriters in an insurance company or financial institution. They play a crucial role in the underwriting process by assessing risks, evaluating applications, and determining appropriate coverage and premiums. The team lead ensures that underwriters adhere to company policies and guidelines, provides guidance and support to team members, and resolves complex underwriting issues. They also collaborate with other departments such as sales, claims, and compliance to ensure smooth operations and customer satisfaction. Strong analytical skills, attention to detail, and excellent decision-making abilities are essential for this role. Effective communication and leadership skills are also necessary to motivate and guide the team towards achieving organizational goals.

Skills: Underwriting, Team Lead, Risk Assessment, Insurance, Financial Institution, Leadership
Job industry: Insurance

How much does Underwriting Team Lead make?

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


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Salary comparison to National average

Is Underwriting Team Lead a well paid job?

Yes, our data shows that Underwriting Team Lead 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 Team Lead?

High salary for Underwriting Team Lead would be somewhere between 18,530,675 ISK and 24,426,799 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Underwriting Team Lead 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: 16,846,068 ISK
Estimated Monthly Salary: 1,403,839 ISK
Estimated Weekly Salary: 323,963 ISK per week
Estimated Hourly Salary: 8,099 ISK per hour
By working as Underwriting Team Lead a person can save up to 7,047 USD per month or 84,560 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 Team Lead

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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