Original text here from Patrice Bernard (LinkedIn)
It was only a matter of time: the first AI-powered insurance advisors are reaching the market. In this case, the UK platform Simply Business — a 20-year-old comparison and brokerage service — is entering the complex but promising domain of small business insurance.
Simply Business, long focused on simplicity, transparency, and speed in helping clients find the right solutions, is adding an intelligent assistant to streamline its process. Previously, users filled out a single form and obtained a quote; now, the virtual agent handles follow-up questions, explains coverage details, and suggests adjustments (such as modifying a coverage limit), all via a generative-AI interface built on a controlled reference data corpus designed to ensure quality results.
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During testing, Simply Business reports a 20 % increase in conversion rates following the introduction of these capabilities. Interestingly, the strongest impact was among visitors who were initially least inclined to purchase: interactions with the intelligent advisor appear to act as a catalyst for buying intent — likely because of the clarity and trust generated. Users still retain the option to switch to a human expert if they prefer.
I am especially convinced of the value of automated advice in the small business segment. These businesses are often neglected by traditional insurers because each client is small, the range of trades is diverse, and building a tailored solution is cost-intensive. Where a human agent may not take the time to fully understand a business’s complexities due to margin pressures, software has none of those constraints — plus the advantage of instant responsiveness.
Of course, the two main caveats remain: (1) the reliability of the AI’s recommendations (which will require ongoing validation), and (2) the level of trust clients place in AI for something as sensitive as insurance advice. While having a human advisor is reassuring, we may see growing acceptance when the “advisor” is a machine.
