input: 
  def insertion_sort(list: list) -> list:
      """
      Implements the insertion sort algorithm to sort a given list of elements in ascending order.
      
      >>> insertion_sort([3, 5, 1, 4, 2])
      [1, 2, 3, 4, 5]
      
      >>> insertion_sort([8, -1, 3, 0, 5])
      [-1, 0, 3, 5, 8]
      """
  
output:     for i in range(1, len(list)):
          key = list[i]
          j = i - 1
          while j >= 0 and key < list[j]:
              list[j + 1] = list[j]
              j -= 1
          list[j + 1] = key
      return list