Given that it is in a stored procedure, why do you care whether it is one or two INSERT statements? Clearly, two statements is trivial.
Some DBMS allow you to list multiple values clauses in a single INSERT (@Ivan suggests this):
INSERT INTO Table(ID, ContactName, Designation)
VALUES(1, @ContactName1, @Designation1)
VALUES(1, @ContactName2, @Designation2);
I'm not certain whether a comma is needed between the values lists. I'm also not clear whether the two records in Table are allowed to have the same ID, nor how the ID is determined - that is probably some auto-increment stuff, and different DBMS do that differently too.
If your DBMS does not support multiple VALUES clauses in a single INSERT statement, then you will be best off accepting two INSERT statements. If atomicity is an issue, you can consider transactions - though if this is just a part of a bigger transaction, ROLLBACK on error, in particular, would be a problem. If your DBMS supports SAVEPOINTS, then the procedure could establish a savepoint on entry, and commit or rollback to the savepoint on exit.