Core Insights - Kevin O'Leary, known as Mr. Wonderful, has launched a specialized insurance platform called WonderCare to address the inadequacies of traditional insurance for high-value watch collections [1][3] - WonderCare uses artificial intelligence to generate insurance policies quickly and pulls global auction data every 24 hours to ensure coverage at replacement value [3][4] Insurance Market Insights - Traditional home insurance policies often cover watches at their depreciated value, which may not reflect their current market worth [2][3] - WonderCare offers policies that protect against loss, theft, or damage without a deductible, contrasting with typical homeowner's insurance [4] Pricing and Coverage - The annual cost to insure high-end watches through WonderCare varies significantly, from $43 for a Tudor Black Bay Fifty-Eight valued at $3,625 to $866 for a Patek Philippe 5172G worth $73,700 [4] - The platform aims to provide comprehensive coverage tailored to the luxury watch market, addressing a niche that has been overlooked by traditional insurers [4] Customer Reception - Public reactions to O'Leary's venture have been mixed, with some criticizing the luxury watch hobby while others express interest in the insurance service [5][6] - The service is seen as beneficial for collectors who appreciate fine watches and seek adequate protection for their investments [5][6] Security Measures - O'Leary has taken personal security measures by spreading his watch collection across nine cities, each with its own vault, to mitigate the risk of theft [7]