According to ChainCatcher, Ethereum co-founder Vitalik Buterin posted on social media that, in my opinion, insurance DAOs are underestimated. N people who are concerned about similar risks pool their funds and agree to provide protection for anyone who is at risk. The symmetric model ensures that the imbalance of interests is smaller.

If necessary, DAOs can still hire professional claims judges, but their incentives are fair and just because each participant does not know whether the next beneficiary will be himself.

Similar models have existed in the past and even exist in some places today.