So sorry to hear about Cosmo's diabetes, it must be a very worrying time for you. It sounds like, despite her problem, she is still very much enjoying life and her walks, which is the main thing.
It also sounds like you have recognized the problem early and got professional help and medication, which is very important. Whilst the insulin will not cure the canine diabetes, it will slow its effects down.
Unfortunately there is no cure or operation for canine diabetes. Once your Schnauzer Cosmo has been diagnosed with canine diabetes, it is all about managing the condition and maintaining Cosmo's quality of life.
Diet and exercise are important factors and thirdly spaying is also recommended for females that have not already been done.
Sadly, many (but not all) dogs with canine diabetes do eventually go blind. However, most of these dogs with loving owners continue to have very happy lives. The deterioration of sight is gradual and so the dog is continually adjusting to the world around her as it becomes less focussed.
If the worst happens and Cosmo does eventually become completely blind, she will have been used to living with increasing partial blindness for months or even years.
Continuing with your regular habits and walks is the best way forward. Cosmo doesn't know there is anything wrong, she will just carry on as normal, making one or two adjustments as she goes along.
Here are some useful links for further information: