Hello,
CBS J-Term does tend to have higher acceptance rates. Given your company is sponsoring you and you don't need an internship, it makes a lot of sense to apply J-Term. In fact - the J-Term was created for someone with your profile (often candidates who do need an internship or don't have defined goals apply J-Term because it has a higher acceptance rate, despite having the wrong profile for the program).
INSEAD is the opposite of CBS. If you start in September you go straight through - without doing an internship. If you start in January, you have a seven week hiatus during which you can do an internship. (I can't - however - state whether this is the reason one acceptance rate is higher than the other. INSEAD is an unusual program as it is an international school - and there is a lot of transfers between campuses).
Incidentally - in addition to working as an MBA Admissions Counselor I chose CBS over INSEAD (granted 15 years ago) - so if you have any questions on the two programs don't hesitate to let me know:
[email protected]Pamela