High-temperature superconducting materials have remarkable current-carrying capabilities, even when operated under high magnetic fields. Since long rare earth-barium-copper oxide (REBCO)-coated conductors are now available (thanks to improvements in the fabrication process) this material has become an attractive option for high field magnet applications. However, such extreme operating conditions require an efficient quench protection system to prevent the coil from developing damaging hot spots, which greatly depends on the winding used. We focus here on the protection of insulated HTS coils against thermal runaways that can locally destroy the magnet. We developed a transient two-dimensional (2D) axisymmetric model using a volume integral formulation based on generalization of the partial element equivalent circuit method to compute the local current density distribution inside REBCO-insulated coils and account for local performance variations. Indeed, the most interesting property of integral methods is the requirement that only active regions are meshed, which leads to a significant reduction in the size of the problem. The formulation is introduced for general 3D cases and its adaptation to 2D axisymmetric problems is detailed. The formulation has been validated thanks to a bulk magnetization benchmark, the results of which (obtained with the finite element method) were compared with our integral formulation solution. The model has also been compared with experimental data obtained on a double pancake coil. The objective is to study the effects of magnetization on the transient voltage due to dynamic current distribution when ramping up the magnet so as to be able to determine some key parameters associated with coil protection. Such an approach is developed on a small-scale test case and the transient behaviours observed are discussed.