Yes indeed. In engineering we typically call them roll taps but they are fluteless as you say. They're only any good in soft materials, obviously. From that web page "M6 x 1.00 HSSe Fluteless STI Wire Insert Roll Tap ". Not especially cheap (and possibly only really useful as a machine tap rather than hand, not sure). I just reckon it would give even better results in combination with a helicoil.
