Actualizar usando declaración de caso

Creo que te refieres a UPDATE y no INSERT :

UPDATE MyTable
SET ColumnName = CASE WHEN ColumnPosition = 'Col 1' THEN 'Name'
                      WHEN ColumnPosition = 'Col 3' THEN 'Address'
                      -- ... the rest of your conditions
                      ELSE -- put your default value here
                 END