(Image source: Simply Business homepage.)
Simply Business (Boston) has launched an AI-powered insurance advisor designed to help small business owners navigate the insurance purchasing process. The tool is based on a Retrieval-Augmented Generation (RAG) model and uses large language models to provide conversational guidance on coverage types, limits, and definitions. The advisor is positioned as a complement to licensed agents, assisting customers early in the buying process.
According to Simply Business, the system matches user questions to a curated, human-verified knowledge base and is designed to respond in real time. The tool incorporates user feedback to continuously improve response quality over time.
Dana Edwards, Group CTO, Simply Business.
The company reports that, since its beta launch, users who engage with the advisor show a 20 percent higher purchase rate. Among visitors identified as low intent, those who interact with the tool three or more times demonstrate a 9 percent increase in requests for quotes. Simply Business attributes the performance to improved user clarity and engagement.
“Our AI-powered insurance advisor is another milestone in our efforts to simplify the insurance buying process for small business owners,” comments Dana Edwards, Group CTO, Simply Business. “Importantly, the tool marries advanced technology with the human touch by providing access to our highly skilled agents. We are not just implementing AI; we are pioneering responsible, effective, and scalable solutions that empower entrepreneurs to make confident decisions quickly.”
Simply Business has received industry recognition for its technology initiatives, including a Gartner case study and shortlist nominations from Insurance Insider and US FinTech.
Founded as a digital marketplace, Simply Business enables small business owners to compare and purchase coverage from multiple carriers. The company’s offerings include general liability, professional liability, business owner’s policies, workers’ compensation, cyber insurance, and related commercial coverages.
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