Even better, why not just add some muscle?
Muscles are good at soaking up glucose, especially well-exercised muscle. Insulin levels go up when your body is trying to remove glucose from the blood and store it in appropriate cells. The body will increase insulin production when it has a difficult time storing glucose (too much intake of glucose producing food, cells not being receptive to insulin's message to store glucose, or a combination of the two).
I was a full blown diabetic at 12.7 A1c. Eating low carb and lots of long, slow, steady-state cardio brought it down to 7 in about six weeks (with the help of medication). There was some intermittent fasting in there as well, usually on the days I did a lot of cardio. I continued to improve doing that - got off the mediation - but I plateaued with an A1c in the high 5's. The really good changes happened when I started doing a lot of weight training and changed to high-intensity-interval-training for most of my cardio. My A1c dropped and has stayed in the low 5's (5.2 last time) without any medication. I generally eat 4-5 times a day using a low-carb diet rich in green veggies with a lot of lean meat (and some bacon too).
I don't have a problem doing some fasting, and I think it helped a little in the early stages of trying to fix my diabetes, but adding muscle and dropping body fat by means of high intensity athletic training with an emphasis on weight training while eating low-carb is what got me to where I wanted to be.
It's been a while since I've done my research, but I recall concerns about fasting actually causing an increase in insulin production and body fat because your metabolism is responding to it's perception that you're living in a time of famine.
My takeaway from my research and experience is that it's better to reduce your body's need to create more insulin by reducing the load (less glucose produced from food), and making your body more insulin sensitive by increasing it's ability to store glucose efficiently (reduce fat and add muscle mass through some cardio and strength training.