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That is correct, you use instead the "Update a form field value" to insert/update value of a field using conditional statement.
the Insert function is still there -- you have to setup the option Output to Field to insert value from a field to another field.
Check this user guide also https://www.jotform.com/help/286-How-to-Populate-Field-with-a-Value-from-another-Field
Hopet this help. Inform us if you need further assistance.