Quick Background: I was on the waitlist for Jan 2011 intake (applied in R2 last year) from September till 3rd week December before being rejected. I applied again for Jan 2012 (in R1) and got an admit mail a few days back.
This post is to update you on my recent experience of being on INSEAD waitlist. During my waitlist period last year I sent the AdCom two additional referral letters and also send one update email on increased professional responsibilities.
Please note that there is NO clear cut formula to success while on waitlist…some are admitted without sending anything and some are not after sharing updates. The decision of AdCom is more a factor of class diversity (cultural, regional, professional, academic,….) and all the other factors that you have read on INSEAD website..
I suggest you to prepare for both possible outcomes….easier said than done…I can completely understand. R1 waitlists have a lot better chance than R2/R3 just because the AdCom reviews their status more than other round waitlist because you applied earlier.
There is no average conversion rate from waitlist…I have asked this question multiple time to alums/on INSEAD chats/other forums….it varies a lot year by year and intake by intake…all figures available on the net are just estimates
Best of luck while on waitlist and feel free to PM me for any inputs…there may be a delay in response but I will surely respond…