Simply Business launches new AI solution

Small business insurance broker Simply Business (USA) announced the launch of its “first-of-its-kind” AI-powered insurance advisor.

The AI-powered advisor uses proprietary technology, built on a Retrieval-Augmented Generation model, to deliver a hyper-personalized, conversational experience that makes the insurance buying process faster, clearer, and more intuitive. The tool assists the small business owner throughout the buying process – answering questions about coverage types, and providing guidance on coverage limits.

The system leverages AI and large language models to intelligently infer user intent and match queries to a robust, human-verified knowledge base ensuring that answers are not only instant but also accurate. The technology features continuous learning capabilities powered by real-time feedback loops, creating a virtuous cycle of self-improvement.

Since its beta launch, the advisor has led to a 20% higher purchase rate among engaged users. The tool is “especially powerful” for low-intent visitors. When this group engages with the AI advisor three or more times, the tool acts as an intent multiplier, resulting in a 9% lift in a Request for Quote.

“Our AI-powered insurance advisor is another milestone in our efforts to simplify the insurance buying process for small business owners. 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.” – Dana Edwards, Group CTO at Simply Business.