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Insurance is about pooling risk, but also understanding it. When you buy life insurance, they ask a jillion questions to try to determine how risky you are. And that is fine with me, because I am a low risk guy, and the system benefits me. I don't want to have to pay for the risk for the fat smoker dude in the cube next to me.
Just by accepting one of these boxes, you are demonstrating that you aren't trying to hide anything and are comfortable with the company knowing more about you. The fact that you aren't afraid immediately puts you in a lower risk category. Even if they never look at your data, they would be right in giving you a discount.
They are probably looking for certain things in your history that they think correlate to being accident-prone. Any speed over 75 mph, sudden braking, stuff like that. I doubt they are using any kind of gps/triangulation technique to compare you to speed limits. It would just take too much computational power. Risks are usually pretty easy to predict based on a few simple factors.
Whether you let them do it or not is up to you, and I can understand people NOT wanting to do it.
Just my thoughts...
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