Seems to me that this program is missing some critical metrics of driving safety. As an app it has the potential to monitor other phone activities while driving. I think that beyond the basic GPS based speed / location measurements and the accelerometer data they should be interested in how distracted the driver is by their mobile.
Say they're texting or browsing the web while driving but still doing the speed limit. The way this program is being described there would be no penalty. In reality the driver is by far more of a hazard to those around them and should pay a higher premium as they are more likely to be involved in an incident.