In so far as insulin promotes de novo lipogenesis and suppresses lipolysis in adipocytes it DOES help keep the fat inside. But in Hyperinsulinemia / Insulin Resistance with Impaired Glucose Tolerance lipolysis may not be sufficiently reduced and fatty acids and glycerin can be spilled at the same time that Triglycerides are being formed & stored. In the liver the glycerin gets converted to glucose producing hyperglycemia.
Of course, most people use IF with another weight-loss plan. For instance, you might decide to eat 1,200 calories a day to lose weight. You may find it much easier to spread out 1,200 calories within two meals and two snacks than in three meals and three snacks. If you’ve struggled with weight loss because your diet either didn’t work or was simply too hard to stick to, you might try intermittent fasting for quicker results.
Not only that, but growth hormone is increased during fasted states (both during sleep [5]and after a period of fasting). Combine this  increased growth hormone secretion:[6], the decrease in insulin production (and thus increase in insulin sensitivity [7]), and you’re essentially priming your body for muscle growth and fat loss with intermittent fasting.