Hello,
To answer your specific questions:
- The low IR will be looked at holistically by the adcom. It’s fairly new in the GMAT realm, so adcoms don’t yet put lots of weight on it generally. However, if other aspects of the application would cause them to question your skill in this area, then it would take on more importance.
- Unfortunately being unemployed when you apply tends to be a negative factor, unfair as that may be. The best way to deal with it is to show that you are being extremely productive in a relevant way and using the time thoughtfully. Also, explain it as frankly as possible, i.e., if you had a family crisis that required your full-time involvement (and in that case, why did you quit rather than take a leave of absence) – possibly you could talk about meeting your responsibilities, and facing the reality that one’s responsibilities sometimes conflict. Such discussion could also help mitigate this as a negative factor.
Also, be assured that the adcoms understand the Indian grading system regarding the GPA.
Overall I’d consider INSEAD a very high reach given all the factors, even though you’re qualified by the numbers. The other schools you list would probably be reasonable reaches, assuming
strong applications.