Peter Smits

Managing Director

Ashbourne Insurance Services Limited

What do you do?

As Managing Director, I see it as my responsibility to ensure that all stakeholders understand the direction, ethos and vision for the business. Much of my time is taken up with regulation and compliance; however, I am hands-on with all parts of the business to provide support and guidance where necessary.

I am a great believer that culture is key and that this starts from the top if you want to maintain growth and brand loyalty.

Who do you work for?

Ashbourne Insurance is a third generation, family-run, general insurance broker established 45 years ago. We are independent, meaning that we are free to search a wide panel of insurers to secure cover tailored to your specific needs at a price to suit your budget. Every recommendation we make is based on our understanding and advice, aimed at giving you, the policyholder, complete peace of mind.

Why did you join the Chamber?

I believe that it was over 15 years ago that we first joined just after I, my wife Sarah and brother-in-law Matthew bought the business from our founder, their father, the late Richard Hunt. At the time we wanted to expand our network of local suppliers to ensure we had trusted advisers and the best chance of continuing a successful business in an ever-changing market.

How has it helped your business network?

Having already been established in the local area for quite some years, it wasn’t about attracting new prospects, although the membership has granted us some valued new customers for which we are very grateful. The priority was to get to know and work closely with a trusted network of advisers that could aid our business growth and we continue to benefit from this over 15 years later.

What advice would you give someone starting out?

Have a vision for what you want to achieve and keep reviewing this as your business changes and evolves. Never be afraid to ask questions; you won’t start out with all the answers and there is always someone else that has been through similar, and their experience could prove invaluable. Finally, always remember that your clients don’t care about you until they understand how much you care!

What do you think is the biggest challenge affecting running and growing a business?

I think that staffing is a major challenge to any business and the landscape has definitely changed post-pandemic. For our business, one that is relationship-based, staff that are engaging, credible and knowledgeable are key to our continued success. Another challenge is disrupters in our industry, using AI and the internet to circumvent the experience and understanding that is gained over 45 years trading - buyer beware!

I think that staffing is a major challenge to any business and the landscape has definitely changed post-pandemic. For our business, one that is relationship-based, staff that are engaging, credible and knowledgeable are key to our continued success.

What support do you want from Government?

Regulation and compliance is a challenge for smaller, regional independent brokers that have the same demands as multinational, corporate entities. Maybe a tiered system would be fairer and more bespoke. In addition, I think SMEs could do with some help and assistance in better understanding AI. We adopt and apply some of the technology to improve systems and processes; however, more could be done to remove barriers to better learning and development.

How confident are you your business will grow in the next year?

We are projecting growth and early signs for this financial year are positive; however, I can’t help but think some of this growth might be offset against what plans the Government has to sustain the economy. We’re not about growth for growth’s sake; however, I do believe that more and more people, commercial clients especially, are looking for peace of mind alongside value for money with their insurance solution and this puts us in a good place.