That's not to say that new business growth is far from a priority. The survey indicates that independent agents are looking to hire more staff, cross-sell insurance and up-selling new businesses.

While the independent agent channel has strong assets, an incremental, piecemeal approach to tackling these challenges is unlikely to be successful, the survey says. While carriers and agents need each other, long-term success will require substantial and wide-ranging actions from both parties.

To optimize the IA channel, carriers and IAs need to be synchronized in their actions, yet the complexities of the carrier/agent relationship, and furthermore, the capital/operational constraints of smaller agencies can hinder progress.  But for the purpose of optimizing the IA channel, carriers and agents should work together to achieve five mutually beneficial outcomes.

• Greater customer loyalty.
• The ability to engage with customers on their terms across all preferred channels.
• The capacity to engage in advice- oriented sales and service.
• More efficient and adaptive agency operations.
• Data-driven insights that make all parties more effective.

Click through the following slides to see which actions are critical for agents and carriers to achieve these outcomes for optimization.

Maintaining and improving customer loyalty

For the independent agent:

Independent agents should focus on providing differentiated services that are important to customers, and selectively choose carriers that have similar goals. Furthermore, independent agents can sharpen the focus on advisory services in order to put an agent in the position to give customers choices, while also assisting them in making sound decisions on complex insurance and financial offerings.

For the carrier:

Carriers, on the other hand, can help improve customer loyalty by facilitating critical agent-customer interactions with predictable delivery, understanding the key customer "moments of truth," such as the claims process, while also enabling agents to act on them.

Accenture also recommends that carriers serve customers on behalf of the agent, when the agent cannot. This includes offering complementary client services. After-hours call services, for example, and customer self-service options help to address customer needs at anytime, in any place, on behalf of the agent.

Adopting an omni-channel approach to engage with customers on their terms

For the independent agent:

Integrating with the online distribution ecosystem, by becoming part of the growth of new and alternative channels, is one way an independent agent can adopt, fostering an omni-channel approach to business.

Furthermore, partnership with service providers that offer growth-incenting digital capabilities, as well as embracing other omni-channel options can further optimize the role of the IA channel in the agent-client relationship. By providing advice and assistance to customers through different channels, agents can easily engage with their customers and stay in touch through various platforms.

For the carrier:

Carriers should focus on providing omni-channel capabilities that help keep agents accessible, visible and relevant to customers, fostering a trusting relationship between the customers and IAs.

This comes with the expansion of customer engagement through the implementation of digital and omni-channel capabilities. Carriers are in the position to provide customers with convenient access to what they may require or need through omni-channel capabilities and other digital services. Some capabilities might include advice or information offered via social media presence, an easy-to-navigate website or online quoting services.

Engaging in advice-oriented sales and services

For the independent agent:

While selling insurance products is the essential crux of an independent agent's role, no less important is their ability to address customers' needs holistically. Agents should work to provide advice for their clients on risk management and value-added services.

Furthermore, agents should strive to modernize their business practices and increase focus on high-value tasks by using agency management, CRM and other technology systems. The increased productivity and streamlined approach associated with the implementation of these technological systems will leave the agent more time to make the clients' needs their primary focus.

For the carrier:

Accenture recommends that carriers focus on deep, value-added integration with agencies. This includes assisting in streamlining agency processes to relieve staff of administrative tasks, and further allow them to focus on the customers. Carriers should also empower field managers to provide agents with real insights on how they can sell products most effectively.

Creating efficient, effective and adaptive agency operations

For the independent agent:

Making the most of capabilities provided by carriers, deferring low-value tasks to them while motivating producers to sell and serve customers is key in laying the groundwork for effective agency operations. Agents must also consider investing in new technology solutions that operate business through an integrated and highly efficient platform.

For the carrier:

Carriers, on the other hand, should meet agents where they are, supporting the agency's brand and growth, and not just their premium growth. Carriers should act on the agent's behalf through tactics, which might include best practice trainings and info sharing sessions, agent-to-agent communities for interaction and the extension of economics of scale to agencies.

Furthermore, the simplification of business submissions and other key transactions under an integrated process can make it easier for independent agents operating in a one-to-many carrier realty to navigate separate processes and tools for several carriers, and furthermore, adopt those tools.

By adopting new business and independent agent network models, carriers can then mitigate threats, while also taking advantage of the opportunity from new entrants, such as online aggregators.

Leveraging data to achieve insight- driven actionsand outcomes

For the independent agent:

Agents need to apply basic analysis to current customer data and interactions to identify relationship building, cross selling and retention opportunities, Accenture claims.

For the carrier:

Carriers need to focus on selecting and building strong relationships with the right agents. This includes understanding which agents fit the mold of the carrier, and which agents share a particular carrier's goals.

From there, carriers should develop a segmentation-based approach to agent engagement, Accenture claims. In doing so, carriers should be sure to address the specific circumstances of each agency and use information (provided by informed and knowledgeable field managers) to assist in improving IA performance.

But Accenture notes that it is crucial to give agents specific insights they can use, answering questions such as: "Where are underpenetrated markets?" From there, the agent can identify more opportunities and optimize their relationship with clients.