Insurers must adapt innovation activities to the needs of different business lines, according to a new report from research and advisory group Celent.

It says personal lines will be affected long before commercial, and distribution remains a major battlefield for insurers across all market segments.

Aggregators and robo-advisers will play a significantly larger role and may become the primary source of new sales in personal lines within five years.

“A one-size-fits-all model will not be sufficient to reflect the nuances of each line of business,” the report says. “For some lines of business and insurtech concepts, the urgency is high, while in others it is low.”

See ANALYSIS.