Protecting online privacy requires users to engage with and comprehend website privacy policies, but many policies are difficult and tedious to read. We present PRISMe (Privacy Risk Information Scanner for Me), a novel Large Language Model (LLM)-driven privacy policy assessment tool, which helps users to understand the essence of a lengthy, complex privacy policy while browsing. The tool, a browser extension, integrates a dashboard and an LLM chat. One major contribution is the first rigorous evaluation of such a tool. In a mixed-methods user study (N=22), we evaluate PRISMe's efficiency, usability, understandability of the provided information, and impacts on awareness. While our tool improves privacy awareness by providing a comprehensible quick overview and a quality chat for in-depth discussion, users note issues with consistency and building trust in the tool. From our insights, we derive important design implications to guide future policy analysis tools.

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