Axis Max Life Insurance has partnered with GreyLabs AI to deploy its Voice AI Suite, an AI-powered solution designed for BFSI enterprises, to strengthen customer intelligence and improve sales effectiveness.
The deployment enables Axis Max Life to assess 100% of meaningful customer calls using AI, replacing selective manual call reviews. According to the company, the initiative has contributed to a nearly 15% improvement in sales conversions.
One of the key insights from the deployment was that the first 90-120 seconds of a sales conversation can predict conversion propensity more effectively than customer demographic data. The finding is helping the insurer identify high-intent customers and refine its telesales strategy based on customer conversations rather than profiles.
Over the past five years, Axis Max Life has expanded its digital life insurance business significantly, with online channels now contributing around 15% of its Annualised Premium Equivalent (APE). The company said one in three new customers is acquired digitally, while its online business is growing at approximately four times the industry growth rate.
Using GreyLabs AI's Voice AI Suite, Axis Max Life now analyses more than 6 lakh customer conversations, covering over 1.4 crore minutes of call time across more than 700 agents. The company said the AI-generated insights are also helping improve follow-up communication, customer engagement and product development.
Aman Goel, Founder & CEO, GreyLabs AI, said, "Axis Max Life Insurance has been an exceptional partner, a team that was willing to fundamentally rethink how customer intelligence should work in a regulated industry. BFSI as a sector has historically been cautious about AI adoption and rightly so. But 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. What Axis Max Life has shown is that in regulated industries, AI does not need to replace human judgment, it needs to inform it. That is the model we are building across BFSI."
Vaibhav Kumar, Head – Product Management and E-Commerce, Axis Max Life Insurance, said, "At Axis Max Life, our digital business is built on the principle of understanding what our customers need. 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, and build more meaningful conversations at every touchpoint. This is exactly the kind of partnership that helps us deliver on our promise to customers."
Building on the deployment, the two companies are also exploring broader AI applications across the sales lifecycle, including a Voice AI Calling Agent designed to proactively engage prospects and support them through the purchase journey.
.jpg)
.jpg)
