Rotary cutting tool, such as a drill, comprising an exchangeable cutting insert, and an exchangeable cutting insert

A cutting tool adapted to perform cutting operations when rotated about a central rotational axis, the cutting tool comprising:

• a generally cylindrical tool body having an opening disposed at an end thereof;
• and
• a cutting insert disposed on the tool body, the cutting insert comprising:
• a cutting tip portion comprising at least one cutting edge;
• an elongated projection extending from a central section of the cutting tip portion into the opening of the tool body along the central rotational axis, the elongated projection having a varying radius;
• wherein the cutting tip portion comprises at least one wing disposed to extend in a substantially radial direction with respect to the central rotational axis and beyond an outer surface of the elongated projection;
• wherein the at least one wing comprises:
• a top tip surface and a bottom contact surface being disposed opposite the top tip surface;
• a peripheral surface being disposed to extend between the top tip surface and the bottom contact surface;
• a side flute surface being disposed to extend between the top tip surface and the bottom contact surface;
• and
• a side bearing surface being disposed opposite the side flute surface and being disposed to extend between the top tip surface and the bottom contact surface;
• and
• wherein a cross-section of the elongated projection comprises a pair of elliptical shaped portions, each of the elliptical shaped portions being disposed on opposing sides thereof.