Introducing Axlerod: An LLM-based Chatbot for Assisting Independent Insurance Agents
This is an incremental domain-specific application for independent insurance agents.
The paper tackled the problem of improving operational efficiency for independent insurance agents by developing Axlerod, an LLM-based chatbot, which achieved 93.18% accuracy in policy retrieval and reduced average search time by 2.42 seconds.
The insurance industry is undergoing a paradigm shift through the adoption of artificial intelligence (AI) technologies, particularly in the realm of intelligent conversational agents. Chatbots have evolved into sophisticated AI-driven systems capable of automating complex workflows, including policy recommendation and claims triage, while simultaneously enabling dynamic, context-aware user engagement. This paper presents the design, implementation, and empirical evaluation of Axlerod, an AI-powered conversational interface designed to improve the operational efficiency of independent insurance agents. Leveraging natural language processing (NLP), retrieval-augmented generation (RAG), and domain-specific knowledge integration, Axlerod demonstrates robust capabilities in parsing user intent, accessing structured policy databases, and delivering real-time, contextually relevant responses. Experimental results underscore Axlerod's effectiveness, achieving an overall accuracy of 93.18% in policy retrieval tasks while reducing the average search time by 2.42 seconds. This work contributes to the growing body of research on enterprise-grade AI applications in insurtech, with a particular focus on agent-assistive rather than consumer-facing architectures.