I would be surprised if this is the first time this has been requested, but …
It’s a little annoying to have to open the edit channel settings, in order to gain access to the button that opens the insert. Why not put the Open/Close Insert button on the fader. The master bus can look something like this:
But the other channels (group, instr, etc.) have no room, so maybe make the fader a smidge wider, to accomadate a small row of buttons going up and down the side (they would be less wide than in the pic above). This extra fader “part” (for lack of a better term) can be toggled on/off with a button at the top - the same way the fader can be toggled wide/narrow.