I think you can do that with a bit of care and a hand held drill motor. Providing you can get the pump housing firmly chucked up between a couple of pieces of soft wood in some kind of vice.
The correct drill size will be included in the heli coil kit. The drill will follow the hole that is there reasonably well.
One caution. Especially if you do not have experience with this.
The heli coil tap is familiarly known as a "starter tap" ....meaning that it is tapered at the starting end.
Hence, when tapping the hole, after drilling......the bottom 3-4 threads left in the hole after the tapping procedure are not cut to 100% full depth. If you have finished your tap, but failed to go in deeply enough, the heli coil will be compressed at the bottom once installed. Then, when you try to re-install the switch....it will bind up before reaching the full depth for the flange washer to seal.
For short holes......such as this one could be......heli coil sells additional taps designed to squarely cut the bottom of the thread once the starter tap is removed. alternatively if needed, Once you have finished cutting your starter tap thread....you can then grind the bottom 1/4 to 3/8" off the point of the tap and re use it for a bottoming tap. That however means that you would have to buy a new starter tap for the next thread you need to fix.
A little care and inspection throughout the process will help you determine if you have the threads cut deeply enough to get the insert in correctly. Once you install the insert, it's a bit of a challenge to get it back out to rework the tapped area.
Not to scare you her....just use a lot of care.
Regards, Ibjman