The Time-Sert kits that they sell include, besides the inserts: a drill bit, counterbore, tap, and an installation driver.
These kits can be rather pricey. For example, a M12 X 1.50 kit is running on Amazon for 88 bucks... http://www.amazon.com/dp/B001JK44D4/?tag=atomicindus08-20
However...