For those R2 applicants who might be interested, I have done both of my interviews past two days:
First one was relatively informal, abt 1 hr long, we met in Starbucks. The interviewer was a very nice lady, graduated over 20 years ago and currently in insurance business. She asked me up front the standard questions of why doing an MBA now, why INSEAD, what I would like to do after INSEAD, what I would do if I don't get admitted. That was really the "interview" part, abt 15 mins max. Then we spent the rest 45 mins more or less chatting abt her career path and take-away.
Second one was more formal, went on for 1.5 hrs. The interviewer was also in investment banking, graudated 7 years ago. We met in a meeting room at his bank. We started by me walking through the key events in my life, how I went abroad and how I came back to Asia. I also got the standard why MBA, what I would like to do post MBA, whether I have a Plan B etc. But he also focused quite a bit on what my leadership experience and style is, what I think I can contribute to the class given that I have relatively short work experience, what makes me unique/interesting. He was quite sharp and often followed up my answer with a "what if", "then why not". Towards the end, he also shared quite a bit of his background, his INSEAD experiences etc.
Different interviews but enjoyed both. Hope this helps. Good luck everyone!
Now I need to wait for over a month!