AI-powered Watch insurance

In 2017 Baloise, one of the leading Swiss-based insurance groups, has moved into a new strategic phase. The focus lies on quickly developing new products and services that excite and engage today’s modern consumers.

Whilst buying insurance has was never been an emotional journey for consumers, Baloise is trying to change this, by utilising image recognition AI and creating entertaining and engaging customer journeys.

As a pilot in this area, KASKO enabled Baloise to launch a new watch insurance product, which utilises a photo recognition AI, provided by insurtech startup Snapsure. KASKO supported this project from concept design to launch and it was turned around in only three weeks – just in time for Baloise to showcase it at their annual general meeting (AGM) and Basel World, the most important watch fair in the world.

Baloise and KASKO had already launched three product-based insurances in January 2017 and were working in parallel to launch the first Swiss Cyber Insurance for end consumers. So when Baloise scouted Snapsure, with their innovative photo recognition AI, they asked KASKO for support to turn this exciting technology into a digital insurance product.

A call between Baloise, Snapsure and KASKO was set up and a few different ideas were discussed on how the image recognition AI could be used in an insurance context. The parties quickly settled on watches as a good pilot product given the deeply rooted emotional connection between watches and Switzerland.

Both Baloise’s AGM and Basel World were coming up, providing perfect platforms to showcase this new insurance. To do so, the product would have to be designed and built in just under three weeks using technology, which has never been utilised in Europe to offer insurance before.

The challenge was on…

Design new product

Baloise provided input on required data fields, pricing logic and insurance documentation. However, KASKO was in charge of designing the entire customer journey including new entertaining user experience from scratch.

Integrate new technology

While KASKO had launched products for and worked with Baloise in the past, Snapsure was a new third party technology, which neither KASKO nor Baloise had any experience with.

Tight deadline

Everything needed to be built, tested and be fully operational in just three weeks. Since Baloise’s CEO was scheduled to present the new product, to investors and the press live at their AGM.

Design new product

1. Digital Channel:

  • On Baloise’s website, the user indicates that they want to buy watch insurance.
  • They are then forwarded to KASKO’s white-label webapp, which took Baloise less than an hour to integrate.

2. Photo Recognition:

  • There, the user has the choice of manually entering key details about their watch or to take a photo of their watch and upload it.
  • If the user choses the photo route, the image is passed from KASKO’s platform to Snapsure’s AI, through an API.
  • Snapsure’s AI then identifies the model and make of the watch, based on the photo and sends the information back to KASKO.
  • Back on KAKSO’s platform, the user is asked to confirm that the information provided by Snapsure was correct and to supplement length of insurance, name, email and payment information.

3. Pricing:

  • KASKO’s pricing engine, based on the logic provided by Baloise and the data gathered in the previous steps, returns a quote to the user

4. Purchasing:

  • The user can then buy and pay for the insurance on KASKO’s platform, using credit card or PayPal.

5. Post Sale:

  • Then, KASKO generates the insurance documents, based on templates provided by Baloise, attaches the watch photo and emails it to the customer, who is now insured and ready to go.
  • All the policy data is stored on KASKO’s proprietary policy center, which Baloise’s customer support and claims team can access for information in real-time.

Baloise managed to show off their new image recognition watch insurance at their AGM and at Basel World and attracted great press publicity in the process. To be precise: it reached 650.000 print readers and 93.500.000 online views in Switzerland. This pilot insurance product can now be rolled out to cover gadgets and other personal property. Furthermore, discussion about a standard gateway to connect into Baloise policy admin system are ongoing. But most importantly, they are ongoing once the product turned out to be a success and not before.


“I want to thank all of you for the wonderful job that you have done over the last couple of months. You have been true examples and role models of the spirit and the culture we want to foster at Baloise – being courageous, entrepreneurial, innovative and in the meantime having fun!”
Gert de Winter, CEO Baloise Group

“I am impressed by the inspiring collaboration with KASKO. Agile, quick and uncomplicated. Keep it up.”
Michael Müller, CEO at Baloise Switzerland

“KASKO is the only IT-partner to always deliver 100% on time and in budget and 200% of the initially agreed upon product specification. KASKO is not only an IT-implementor but also a market radar and a modern consultancy with actual skin in the game.”
Philipp Marty, Head of Product Development for Retail Property & Liability insurance at Baloise Switzerland

Check out the actual product here (German, French, Italian).

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