Basically insertion sort works by comparing two elements at a time and selection sort selects the minimum element from the whole array and sorts it.
Conceptually insertion sort keeps on sorting the sub list by comparing two elements till the whole array is sorted while the selection sort selects the minimum element and swaps it to the first position second minimum element to the second position and so on.
Insertion sort can be shown as :
for(i=1;i<n;i++)
for(j=i;j>0;j--)
if(arr[j]<arr[j-1])
temp=arr[j];
arr[j]=arr[j-1];
arr[j-1]=temp;
Selection sort can be shown as :
for(i=0;i<n;i++)
min=i;
for(j=i+1;j<n;j++)
if(arr[j]<arr[min])
min=j;
temp=arr[i];
arr[i]=arr[min];
arr[min]=temp;