Is my score good considering my nationality and background ?

I took my GMAT yesterday and scored 700 (Q50 90%, V34 69%). I am an Indian IT professional with nearly 8 yrs of exp. I have been on my international assignment for the last nine months. I worked in a software services firm(Infosys),then a product based company, then a captive unit, which was acquired by my current company, another software services and consulting company. I am aiming at top schools and am not sure if this score would be enough or should I retake GMAT. Somewhere I read that INSEAD looks for atleast 70 percentile scores in each section. If that's true my application won't be considered.
I chose ISB,LBS,INSEAD,IMD,IESE to send my GMAT scores to. Kindly advise whether I should go for a retake or do I have a good chance with my current score.

I do understand that GMAT is just one criterion but I do not have a great undergrad school/score though I studied all the four years of my undergraduate course on a merit-based state government scholarship. Will this help in some way?
Coming to my extracurricular activities, I am not associated with any NGO or such a kind of organization. I do some portrait sketching in my free time and write some poetry, neither of which of a great quality, but I am trying to improve my skills.

Any help/advice is highly appreciated.