Adding an insert point can indeed be as simple as disconnecting the fader top connection and running it to the Send jack, then wiring the Return jack to the now free fader top, and running a connection between the Send jack and the normalling contact on the Return jack. Or it can be done on a single TRS jack, using Tip as Return and Ring as Send (or the contrary, both types exist).
Most of the times, it works without any problem.
In some cases, there are some problems.
The circuit that drives the Send may oscillate because it sees the unexpected capacitance of a length of shielded wire; in that case, fitting a 47-68R resistor in series generally fix the problem.
The level may be too low; this all depends on the chosen internal operating level of the mixer. In that case, there is no easy fix. The easiest is to install level translators; not as complicated as ot may seem. Just an opamp with some gain for the Send and an attenuator for the Return. Then, you may decide to make these level translators balanced...
I suggest you do the basic mod and see how it works; there's no risk and it costs pennies.
400 Euro is a rip-off. 3 hours of work, (including drilling holes, running the wires, connecting them) and 2 Euro's worth of connectors.