Profile Evaluation : 2020 Intake

Hi Abhishek.
Admissions committees will focus on your stats, work experience, and extracurriculars.
Your GPA’s are strong, and your GMAT is also strong, though compared to others in your demographic, it is below the average. If you haven’t already, I suggest taking it up to 3-4 times. You have nothing to lose since schools will only look at your highest score.
Regarding your experience, the average work experience is closer to 5 years, so if you choose to apply with fewer years, make sure you demonstrate why now is the time. And because of your lighter experience, it’s even more important to show you have made an impact and demonstrated leadership there. Ideally this will be supported by a strong recommendation letters as well. It will also be important to explain why you want your MBA, and to also illustrate the skills you already have which are transferable to a consulting role. Be sure your story makes sense, and is realistic and specific.
Regarding extracurriculars, it is good you have been volunteering; make sure to emphasize your leadership roles there.
The schools you mentioned, especially INSEAD, are definitely competitive, and are a bit of a reach. So I suggest apply to other schools as well. However, if you can continue to strengthen your profile – via work experiences and an increased GMAT – hopefully your choices will see that you have a differentiated story to share and to bring to the school!