Paraphrasing involves restating someone else's ideas in your own words.
There are several phrases that can be used to introduce paraphrasing:
So . . . (rephrase the other person's ideas)
In other words . . . (paraphrase)
I understand. (You're saying that . . .)
Oh. I see. (You want to say that . . . )
I get it. (You mean . . .)
So, what you mean is . . .
Let me see if I understand you correctly. . .
What I think you're saying is . . .
If I'm hearing you correctly . . .