According to BlockBeats, on September 19, Ethereum co-founder Vitalik Buterin posted on social media that in my opinion, Insurance DAO is underestimated.
N people who are concerned about similar risks pool their money together and agree to insure anyone who is exposed to risk. The symmetric model ensures that the imbalance of benefits is smaller.
If necessary, the DAO can still hire professional claims judges, but their incentives are fair and just because no participant knows whether they will be the beneficiary next time.
Similar patterns have existed in the past and even persist in some places today.
