Axis Max Life Insurance has deployed GreyLabs AI’s Voice AI Suite to analyse customer conversations at scale, enabling the insurer to improve sales effectiveness, enhance customer insights and achieve nearly 15% higher sales conversions through AI-driven call intelligence.
The deployment enables Axis Max Life to analyse 100% of meaningful customer conversations, replacing traditional sample-based call reviews with AI-led assessment. According to the company, the platform has analysed more than 6 lakh customer conversations, representing over 1.4 crore minutes of call time across more than 700 sales agents.
One of the key insights emerging from the deployment is that the first 90–120 seconds of a sales conversation are a stronger predictor of conversion than conventional demographic data. The finding is helping the insurer identify high-intent customers earlier in the sales process and refine engagement strategies based on conversational signals rather than customer profiles alone.
Over the past five years, Axis Max Life has expanded its digital insurance business significantly, with online operations growing tenfold. Digital channels now contribute around 15% of the company’s Annualised Premium Equivalent (APE), while one in every three new customers is acquired through digital channels.
As customer interactions increased alongside this digital expansion, the company sought AI-powered tools capable of analysing conversations at scale to improve agent performance, optimise follow-up communication and support product development.
“Axis Max Life Insurance has demonstrated that AI can deliver measurable business outcomes in a highly regulated industry when implemented with the right governance and business objectives,” said Aman Goel, Founder and CEO, GreyLabs AI. “Rather than replacing human judgment, AI is helping organisations make better decisions by providing deeper customer intelligence.”
The AI platform also enables contextual post-call engagement by generating follow-up messages based on customer conversations, while insights derived from call analytics are being used to influence product design and customer experience initiatives.
“GreyLabs AI’s Voice AI Suite has given us the ability to listen to our customers at scale-not just what they say, but what they mean,” said Vaibhav Kumar, Head – Product Management and E-Commerce, Axis Max Life Insurance. “The insights have helped us improve customer engagement, strengthen product development and deliver more meaningful interactions throughout the customer journey.”
Building on the deployment, Axis Max Life and GreyLabs AI are now exploring broader AI adoption across the sales lifecycle, including the implementation of Voice AI Calling Agents to engage prospective customers and guide them through the insurance purchase journey.
GreyLabs AI currently provides Voice AI and Voice Analytics solutions to more than 100 financial institutions, including banks, NBFCs and fintech companies, supporting AI-driven sales, collections, customer service and compliance monitoring across the BFSI sector.