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An old school mate is currently working on a project like this.
When the riders phone loses signal to the bike it cuts the fuel supply. I obviously wont go into to much detail about it, as he'd like it to stay hush hush for now.
Major issue is signal loss, especially out in the countryside and the city.
cfixed
@PhilDAS
Would it be possible for someone to develop, if it hasn't already been done, a phone app which connects to your bike wirelessly, through obviously something wired into the bikes circuits. Whereby if you are knocked off and/or robbed of your bike, you can get your phone out and hit a kill switch? Shut the bike down remotely so it probably gets abandoned down the road and you can retrieve it?