Hi,
I met a high-ranking member of Insead's ad committee for coffee in my city a few weeks ago and he explained that through their internal data analysis, they realized women with low/mediocre quant scores but high IR scores (7 or 8) performed just as well in the program as their male counterparts with very high quant scores.
I think, to them, it is a lot more than just a benchmark and it is more of a way to level the playing field. INSEAD is BIG on diversity. Therefore, I think it would less important in the evaluation of your candidacy than it would be in mine, given that I have a Q44 and an IR of 7.