What can insurers learn from Adobe's purchase of Figma?

Adobe's recent purchase of Figma for $20 billion has put the spotlight on the importance of UX/UI and digital experience for modern enterprises. It also underscores the value of no-code tools that allow businesses to create and iterate on complex designs quickly and efficiently.

Figma is a cloud-based vector graphics editor and prototyping tool. It enables designers to collaborate on projects in real-time, making it a valuable asset for companies that rely heavily on design. It also has over 2 million users, making it one of the most popular design tools on the market.

For insurers, this is a timely reminder of the need to place a greater emphasis on the digital customer experience. In an increasingly competitive marketplace, providing a seamless and intuitive customer experience is essential to winning and retaining business. Adobe's purchase of Figma is a reminder that insurers need to place greater emphasis on the digital customer experience if they want to stay competitive in the market.

So what can insurers learn from Adobe's purchase of Figma?

What can insurers learn from Adobe's purchase of Figma?

The value of the user experience

For starters, insurers need to pay more attention to the user experience. Figma rose to prominence precisely because it made design collaboration easy and efficient and didn't have a steep learning curve like other design tools.

Adobe's purchase of Figma underscores the importance of user experience in the modern world.

One of the main reasons why Figma is so popular is because it makes design collaboration easy and efficient. For insurers, this should be a reminder that they need to place a greater emphasis on the user experience. If they want to stay competitive in the market, insurers need to make sure that their digital products are easy to use and deliver a seamless customer experience.

The company's focus on usability is something that insurers should take to heart. In an industry where the customer experience is often lagging behind other sectors, making use of no-code tools like Figma can be a game-changer.

The future is in the cloud

Another lesson that insurers can learn from Adobe's purchase of Figma is the value of cloud-based tools.

Figma is a cloud-based vector graphics editor, which means that it can be accessed from anywhere in the world and doesn't require users to download any software. This makes it extremely convenient for designers who need to collaborate on projects with colleagues in different locations.

Cloud-based tools are becoming increasingly popular in the business world, and insurers need to take advantage of this trend. By investing in cloud-based solutions, they can make it easier for their employees to work together and stay up-to-date on the latest industry trends.

The power of no-code tools

Figma is a collaboration tool allowing designers to work together in real time. This collaboration proved to be invaluable for its users.

No-code tools are becoming increasingly popular as they allow businesses to build complex products without needing expensive and time-consuming development.

No-code tools also allow easier collaboration between different teams, as non-technical team members can contribute to the product without needing to learn code.

No-code tools can help insurers to build sophisticated digital experiences without the need for expensive and time-consuming custom development. By making design and iteration more efficient, they can help insurers bring new products and services to market faster and respond more quickly to changing customer needs.

Insurers should keep an eye on the no-code movement, as it is likely to have a major impact on the insurance industry in the years to come.

The importance of design

Finally, Adobe's purchase of Figma highlights the importance of design. In today's digital world, businesses need to have a strong visual identity to stand out from the competition.

Investing in design can help insurers create more engaging and visually appealing products that will appeal to customers. Additionally, good design can help to build trust and credibility with potential customers.

Investing in design is, therefore, essential for insurers who want to stay competitive in the modern world.

The potential of a community

Figma is more than just a design tool; it's also a community. The Figma community is made up of designers who share resources, give feedback, and help each other to improve their skills.

This community aspect is one of the things that sets Figma apart from other design tools. For insurers, this highlights the importance of building a community around their product.

By creating a community of engaged customers, insurers can get valuable feedback that can help them to improve their products. Additionally, a community can also act as a powerful marketing tool, helping to promote the product to a wider audience. For example, Lemonade has over 53,000 followers on their Facebook page, leveraging social media channels to connect with customers.

Another way insurers can leverage the potential of a community is by building agent/broker communities to help promote their products. For example, Allstate has an agent/broker community called Allstate Agency Owners. This community gives agents and brokers access to exclusive resources, events, and networking opportunities.

Building a community is therefore an important strategy for insurers who want to succeed in the modern world.

In summary, Adobe's purchase of Figma highlights the importance of UX/UI and digital experience for modern enterprises. It also underscores the value of no-code tools, cloud-based solutions, and design. Insurers need to take these lessons to heart to stay competitive in the ever-changing world of insurance.