Ethereum co-founder Vitalik Buterin posted on social media that in my opinion, the insurance DAO is undervalued. N people who were concerned about similar risks pooled their funds and agreed to provide protection for anyone exposed to risk. Symmetric models ensure that there is less imbalance of interests. The DAO can still hire professional claims judges if needed, but their incentives are justice and fairness because each participant doesn't know if the next beneficiary will be themselves. Similar patterns have existed in the past, and they still exist in some places today.