A proliferation of customer loyalty programs in recent years is the result of companies' efforts to acquire and retain customers, increase customer spending, influence customer spending habits, and encourage the purchase of additional products. In fact, customer loyalty programs have become a basic consumer expectation and are part of the "core product" offered by many companies.
PwC's property & casualty actuarial team provides analytical and advisory support to clients in many industries, including hospitality, airline, retail, and banks and financial services. Our extensive experience with loyalty programs and our use of proven industry models, tools and other information enable us to help clients improve their liability management processes and understanding of customer behavior. In addition to improving the accuracy of financial reporting and profitability tracking of customer loyalty programs, we help our clients understand the impact of their decisions on their customers.