Strengthening its digital sales strategy, Axis Max Life Insurance has partnered with GreyLabs AI to deploy its Voice AI Suite, enabling the company to analyse customer conversations at scale and improve sales performance. The AI-powered system has contributed to nearly 15% growth in sales conversions by providing deeper insights into customer interactions.
The insurer has shifted from reviewing selected customer calls to conducting AI-based assessments of all telesales conversations. According to the company, the first 90–120 seconds of a customer call are a stronger indicator of conversion than demographic information. This insight has changed its sales approach, placing greater emphasis on customer conversations rather than customer profiles.
Over the past 5 years, Axis Max Life has expanded its digital insurance business significantly, with online operations growing 10x. Digital channels now contribute around 15% of its annualised premium equivalent, while 1 in 3 new customers is acquired through online platforms.
As the volume of digital sales interactions increased, the company partnered with GreyLabs AI to build a scalable conversation analytics platform. The system currently reviews calls from more than 700 sales agents, covering over 6 lakh customer calls and analysing 1.4 crore minutes of conversations.
Axis Max Life also found that follow-up messages created using customer conversation insights, rather than based on where customers stopped responding, generated higher click-through rates.
Aman Goel, Founder and CEO of GreyLabs AI, said, “What this deployment demonstrates is that when AI is implemented with the right guardrails, the right intent, and a genuine focus on business outcomes rather than technology for its own sake, the results are transformative.”
Vaibhav Kumar, Head of Product Management and E-Commerce at Axis Max Life Insurance, added, “GreyLabs AI’s Voice AI Suite has given us an ability to listen to our customers at scale, not just what they say, but what they mean. The intelligence we’ve gained has helped us serve customers better, design more relevant products.”
Both companies are now exploring additional AI applications, including a Voice AI Calling Agent to engage prospective customers and assist them through the purchase journey. They said the initiative reflects the growing adoption of AI across India’s BFSI sector while operating under regulatory and compliance frameworks.
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