Cooperative insurance is a type of insurance model where members pool their resources to provide coverage for one another. Instead of a traditional insurance company, members contribute to a common fund, which is used to pay claims. This system emphasizes mutual support and shared responsibility among members. In cooperative insurance, the focus is on community and collaboration rather than profit. Members typically have a say in how the cooperative is run, including decisions about premiums and claims. This approach can lead to lower costs and a more personalized service, as the cooperative is driven by the needs of its members rather than shareholders.