A downhole tool has a mandrel with slip assemblies positioned thereon above and below a packer element. The slip assemblies are positioned in a manner to anchor the downhole tool in the well. The slip assemblies include a slip ring which has a plurality of slip segments. Each slip segment has inserts disposed in cavities therein. The cavities are oriented such that the longitudinal central axis of each cavity is parallel to the longitudinal central axis of each of the other cavities in the slip segment.