Unfortunately you have to export each image from Access into a separate file
then use an { INCLUDEPICTURE }  field in Word to insert it. TYpically you
use some data item in the record to construct a name for the file, e.g.
suppose you have a column called K containing a number 1,2,3, then you might
export your pictures to files called c:\pic\1.jp, c:\pic\2.jpg etc. and use

{ INCLUDEPICTURE "c:\\pic\\{ MERGEFIELD K }.jpg }

to include it during the merge.

If you use a DDE connection to Access you /might/ be able to do the export
as an integral part of the merge operation rather than a separate step by
writing an Access VBA function to export the image from a specific record,
calling that function in an Access query, and using the query as your data
source. I have tried something similar and it does seem to work for small
data volumes.

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Peter Jamieson - Word MVP