An indexable cutting insert for face milling with high feed rates has: an upper side, a lower side with a smaller outer circumference than the upper side, and side surfaces connecting the upper and lower sides. Rounded cutting corners are formed at the transition between the side surfaces and the upper side. The cutting corners are connected via convexly arched cutting edges, each running convexly curved from one cutting corner to an adjacent cutting corner. Adjacent the cutting edges, the side surfaces have main flanks extending along the respective cutting edge in a continuously convexly curved manner from one cutting corner to an adjacent cutting corner. The main flanks extend in the direction of the lower side only over part of the height of the side surfaces and merge in a stepped manner into secondary surfaces which are set back inward.