I've known a few people that used it, and were very happy with the results and costs. Like you said, it's basically just a created risk pool like any other insurance, not sure why that's better or worse than when an Insurance Co. does it.

I haven't used it, so I can't personally speak to it being a "scam" or not, but if I weren't getting insurance through Mrs. Hooda's employer, I would certainly consider going that route.