1) 2-3 trees are a type of balanced search tree where each node is either a 2-node containing two child subtrees, a 3-node containing three child subtrees, or a leaf. 2) When inserting a new value into a 2-3 tree, it is first placed in the appropriate position while traversing down based on comparing its value to node values. 3) If the new value reaches a terminal node, it may cause a split or merge of nodes to maintain the tree balance properties. The split value is "kicked upstairs" to potentially be absorbed by a higher node.