I would say it may be the inevitable insight into the futility of pursuing worldly dhammas - gain and loss, disrepute and fame, blame and praise, and pleasure and pain - life after life and, possibly, the obviousness of choice to give up the mistake of the threefold desire/craving which fuels and sustains rebirth.
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It helps with insight into the first noble truth, the understanding of dukkha, specifically the immensity and range of dukkha.
In dhammapada 153-4 we find the image of the housebuilder (craving) of dukkha. The Buddha, remembering his previous lives, notices that he has gone through many births seeking that housebuilder but never finding it.
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Both of these are quite well said!!
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