Ok. Risk engineering in India is not done by many companies. There are only few such as AIG, torus insurance etc. I am not from the field but one of my close friend is so I understand your field a bit.
Anyways atleast you have your goals clear. I see ISB as the good fit as your work ex is just under 6. ISB is a fantastic b school , just the number of students in a cohort worries me. Batch of 900 would have lot of competition for the placement , irrespective of the claims of the career center. Also you get a training certificate from isb hence that is a hindrance for phd from any IIM or outside India, if your plan changes in future.
My advise would be to talk to isb and iim c alumni , who are in your target fields. They would give you a better feedbac about the course.
Also look at the option of product management in the insurance domain. That would open lot more opportunities for you. Good luck.
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