I/O Utility Plugin

It would be great to have a standard I/O utility plugin insert (like Logic X has), that can be used to route things to I/O channels and external gear (instead of using the external FX workflow)
I have many issues with the External FX workflow and isn’t the most convenient.

Asking for a very basic plugin.

Send Gain upto +12db, Return Gain upto +12db, Latency Detect and MIX Knob!