Thanks Aniket for the inputs.
I tried copying the jar into the path mentioned above and set the JAVA_OPTS in the startup.bat of Tomcat but no luck. When I add the JAVA_OPTS in the startup.bat , tomcat is not starting at all. So I added a setenv,sh file and added it there and Tomcat started but I don't see the agent up and running.
set "JAVA_OPTS=-javaagent:D:\jdk1.7.0_79\jre\lib\ext\InsightAgent.jar=url=tcp://localhost:2009,name=JavaAgent"
Regards,
Shivakumar.