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Peter Banks has extensive experience in the insurance industry, specifically in accident and health. Peter has held various roles in different companies throughout their career. From 1999 to 2017, they worked at Accident & Health International Pty Ltd, starting as an Underwriting Officer and later becoming the Chief Executive Officer. In 2014, they served as the Deputy Chief Executive Officer. In 2017, they joined 360 Underwriting Solutions Pty Ltd as the Executive Director of 360 Accident & Health Pty Ltd. Additionally, they were also the Underwriting Manager at Accident & Health International from 2011 to 2013.

Peter Banks attended the University of Technology Sydney from 1991 to 1997, where they obtained a Bachelor of Arts in Human Movement with a specialization in Sports Science.