Speaking from experience ::Warning it is real easy to screw this up. First you need a drill bit made for wood. A regular bit can grab and yank the bow around. It is best to use a drill press. Also if you drill too small of a hole trying to have a snug fit for the insert. Then find out the insert will not go completely down as you try to remove it can bust the wood out around the top of the hole.
It can be done but there is a risk, you may want to consider sending it to BW since this bow is not real beefy with wood, where you are going to but the inserts.