My bike trac has been a pain in the arse tbh. 2 false alarms in as many months so it’s now set with a massive geofence to try and stop it. I’m not going to bother to renew it after the free first year, just not worth it for what it reduces the premium by, which seems to be about £5
When I bought the Supersport I couldn't get insurance without installing the Bike Trac, I had no choice. But at my last renewal I had the same experience as you, it only gave me a token reduction. It has, however, been faultless for the three years I've had it fitted and worked superbly the once I didn't deactivate it correctly for servicing: they phoned me before I had managed to walk next door from the dealer.
Had to switch from vibration to geo-fence as I park under a cover and any high wind results in a call from biketrac, usually in the small hours. As it's parked down the side of my house I have to use a larger geo-fence than standard as GPS drift, due to the fix being degraded by the brick wall next to the bike, caused further alarms. Since I've done this no more problems. Glad the the device has all these options. It's a condition of my insurance to have one fitted.
I am currently out the U.K with my bike and it is also fitted with Bike Trac system. I believe the system is worth its weight in gold as Im here in Czech Republic and had a few false alarms and been contacted straight away. The only gripe I will say it does kill my battery a bit.
When my bike was new in 2016 I struggled to get cover, despite being early forties with full NCB, probably not helped by a less than ideal Sheffield postcode. Ducati were the only company who'd touch me and they insisted on a tracker. Bike trac seem decent to me, they're always pleasant when I'm a chump and move the bike without switching if on. I actually find it reassuring 'testing' the system, albeit unintentionally! Edit to say I totally agree with Marcus about it eating battery power though!