A cutting insert assembly for use in chip-forming and material removal, wherein coolant is supplied to the cutting insert, the assembly comprising: a cutting insert body presenting at least one cutting location; a diverter being positioned adjacent to the cutting insert body; the cutting insert body containing a coolant entry passage through which coolant can flow; and the cutting insert body having a rake surface, the rake surface containing at least one discrete depression in communication with the coolant entry passageway, the discrete depression corresponding to the cutting location, and the discrete depression extending toward the corresponding cutting location, wherein each of the discrete depressions has a depth relative to the rake surface and a width coplanar with the rake surface, the depth and the width decreasing in the radial outward direction, whereby coolant flowing in the discrete depression in the radial outward direction converges toward a radial outer portion of the discrete depression, wherein each of the discrete depressions has a radial inner portion and a radial outer portion, and the radial inner portion intersects an indentation provided in the rake surface surrounding the coolant entry passage and the radial outer portion being adjacent to the corresponding one of the cutting locations, and wherein the indentation comprises sealing surfaces located between the discrete depressions, the sealing surfaces being arranged to contact a diverter, characterized in that the diverter includes a coolant trough in communication with a receiving opening, and the coolant trough is aligned toward a selected one of the cutting locations, whereby the coolant trough and the discrete depression corresponding to a selected cutting location define a conduit for the flow of coolant toward the selected one cutting location. a cutting insert body presenting at least one cutting location; a diverter being positioned adjacent to the cutting insert body; the cutting insert body containing a coolant entry passage through which coolant can flow; and the cutting insert body having a rake surface, the rake surface containing at least one discrete depression in communication with the coolant entry passageway, the discrete depression corresponding to the cutting location, and the discrete depression extending toward the corresponding cutting location, wherein each of the discrete depressions has a depth relative to the rake surface and a width coplanar with the rake surface, the depth and the width decreasing in the radial outward direction, whereby coolant flowing in the discrete depression in the radial outward direction converges toward a radial outer portion of the discrete depression, wherein each of the discrete depressions has a radial inner portion and a radial outer portion, and the radial inner portion intersects an indentation provided in the rake surface surrounding the coolant entry passage and the radial outer portion being adjacent to the corresponding one of the cutting locations, and wherein the indentation comprises sealing surfaces located between the discrete depressions, the sealing surfaces being arranged to contact a diverter, characterized in that the diverter includes a coolant trough in communication with a receiving opening, and the coolant trough is aligned toward a selected one of the cutting locations, whereby the coolant trough and the discrete depression corresponding to a selected cutting location define a conduit for the flow of coolant toward the selected one cutting location.