There is significant increase in use of metals across various engineering, household and industrial applications along with continuous evolving process of manufacturing to produce precise shape and finish of components. Previous studies have mainly focused on mould pre heating to manage thermal gradients while the present work examiners an alternate approach by the use of thermal insulation to reduce the heat loss during casting. Transient thermal investigation of the centrifugal casting mold was done in this work. In order to assess the heat transmission properties for both insulated and non-insulated mold surfaces and comprehend how different solidification rates affect the end quality of castings produced, ANSYS simulation software was utilized for analysis. Different insulation conditions were tested mechanically, and scanning electron microscopy (SEM) was used to look into microstructural differences. According to the findings, applying mold insulation along with preheating and rotating at an optimal speed improved heat retention and decreased heat loss by 27%. This results in better solidification, fewer casting flaws, and higher-quality cast products, accompanied by a 12.67% decrease in the outer mold surface temperature.