Axis Max Life Insurance has deployed GreyLabs AI's Voice AI Suite, a system built for BFSI firms, to review customer calls and support its sales teams. The company says it has now moved from selective call reviews to full AI-based assessment of calls, and has contributed to a nearly 15% rise in sales conversions.
Among the findings from the deployment, Axis Max Life says the first 90–120 seconds of a sales call predict whether a customer will convert, more so than demographic information about the customer. The company says this has changed its approach, from focusing on who a customer is to focusing on what the customer says during the call.
Axis Max Life has expanded its digital insurance business over the past five years. The company says its online business has grown 10x in this period, with digital channels now making up around 15% of its annualised premium equivalent. One in three new customers is acquired online.
As the digital business grew, the number and range of telesales conversations increased beyond what existing review processes could cover. Axis Max Life said this led it to partner with GreyLabs AI to build a system for analysing customer conversations at scale.
Under the partnership, Axis Max Life reviews calls from more than 700 agents, covering over 6 lakh calls and 1.4 crore minutes of customer interaction. It noted that follow-up messages built around what customers said during calls, rather than where they stopped responding, have led to higher click-through rates.
Aman Goel, Founder and CEO of GreyLabs AI, said in a statement, "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."
Axis Max Life and GreyLabs AI say they are looking at further uses of AI across the sales process, including a Voice AI Calling Agent to contact prospects and guide them through the purchase process. Both companies describe this as part of a wider move across India's BFSI sector toward AI use under compliance and regulatory oversight.
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