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I'm not sure about your query speed :) Don't have it against me, but sometimes users just run SELECT statement and waits unitl first rows are returned (e.g. using TOAD which fetches 500 first rows as default) and they are convinced that this is response time for whole set. You have to navigate to last record to see real response time. But probably this is not the casse here. When you insert a large set of data consider to move such statement from forms to database (you avoid data roundtrip between forms and DB). If your insert still takes to much time then try to trace session you run your statement and(if possible) try to monitor your database resource ussge. If you're not able to use dbms_trace then you can just lokk at the system v$Session views. Following two views can be helpful to investigate most time consuming waits and can help understand the reason of slowness.
select * from v$session_wait select * from v$session_wait_history