CEO, MyCybercare
Having started his career as a startup partner for FSA Distribution in 1990, Simon Campbell-Young went on to start his own company called Memtek Distribution in 1995. This was sold to a public company called Siltek Holdings between 1998 to 2000. Shortly thereafter, he took his experience in the technology sector, garnered over more than 23 years, to form specialist distribution company Phoenix Distribution in 2000. Phoenix Distribution was then acquired by First Technology Holdings in 2008.
Campbell-Young started Intact Software Distribution, another specialist distributor, which was acquired by Cognosec AB, a listed UK-based specialist security company. A few years later, he followed that up with the founding of MyCybercare. Under his leadership, all of these companies have expanded their footprint internationally.
MyCybercare, a company providing cyber- and loss of funds insurance, offers cover in the event of financial losses incurred due to online cyber fraud, including a ransomware insurance add-on. Additional features now include ID and Personal Digital Asset Monitoring, as well as ID Theft Remediation Services.
Cyber criminals are well-funded, and have the most technologically advanced encryption and tools at their fingertips. This, coupled with the increased sophistication and complexity of attacks, makes defending against today’s threats a complicated and expensive exercise for organisations. Although many security tools and solutions are available, they are not enough to defend and mitigate these attacks, and cyber crime poses a major threat to businesses around the world.
“It is claimed that over $500 billion plus is lost to cyber crime annually, and that Southern Africa alone ranks third in the world for the number of hacked devices,” Campbell-Young says.
Each year, thousands of people and businesses fall victim to cyber fraud, and have personal or company information stolen for the purposes of conducting transactions without their knowledge or consent. This can result in heavy financial and personal losses, and can be extremely costly to restore not only credit but reputation too. This is driving a need for cyber insurance, he adds.
In terms of future expansion, Campbell-Young says: “We will look to expand quickly across the globe, having recently completed a binder agreement with a large global underwriter. I encourage interested parties looking to leverage regional growth in their relevant geography to make contact with me directly.”
Simon is featured in COVERs Cyber Liability E-Book.
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