Yup.
It depends what kind of inserts we are talking about.
EQ/Compression/Filter and things that don't effect spatial image can go before or after. It does not really matter.
If you are using spatial FX such as ping-pong delays, etc, it sort of depends on what you want to accomplish. If you want P to alter the image created by the delay then it should come after.
Distortion/amp etc: again either way could be interesting and would be different due to the nonlinear nature of the process.
Before reverb though... which would be automatic if the verb is on a send.