It is possible, but a lot of work. You can call the report from a macro, then use the macro Impromptu API GetDataValue to read the data from the report, and then use a SQLExec call to insert it into a database. I've done this before to track macro processes, but never for a full scale insert of a large quantity of data.
If there is a lot of required columns to include, you may be better off creating a stored procedure to do the insert with a minimum number or relevent columns. There is a limitation in the length of the SQL query string (about 256 characters, I believe) that precludes elaborate insert statements.