Consulting Team Member






Dale Stephenson


Professional Summary


Dale is a member of the American Institute of Certified Public Accounts (AICPA), the Institute of Internal Auditors (IIA) and the International Association of Insurance Receivers (IAIR). Dale has over 35 years experience in reviewing operations, systems analysis, financial reporting and effective team and relationship building within the insurance industry. He is able to quickly establish a fundamental understanding of complex operations, identify and implement appropriate control mechanisms, maximize financial review and analysis processes while identifying significant issues with historical records. He has also been instrumental in the review and restructuring of total corporate direction, personnel evaluation, benefits program analysis and administration, and the design and establishment of electronic reporting processes.


DFS Consulting was founded by Dale Stephenson in January of 2006 to provide diversified financial solutions to the insurance industry.
Dale was the 1st president and CEO of the National Conference of Insurance Guaranty Funds (NCIGF) from June 1, 1990 until December 31, 2005. The NCIGF is a membership organization of the property and casualty insurance guaranty funds, providing coordination for national issues in multi-state insolvencies. Prior to joining the NCIGF, Dale served as executive director of the Indiana Insurance Guaranty Association, the Indiana Life and Health Insurance Guaranty Association and the Indiana Crime Insurance Association.
Dale began his professional career with Arthur Andersen & Company. His experience includes 14 years with Well Point/Anthem (formerly Blue Cross & Blue Shield of Indiana), where he was Manager of Provider Audit, Director of Corporate Internal Auditing and Director of National Division Operations.
Dale is a member of the International Association of Insurance Receivers (IAIR), the American Institute of Certified Public Accountants (AICPA), the Institute of Internal Auditors (IIA), and an Associate Member of the Society of Financial Examiners (SOFE). Dale completed his degree in accounting at Ball State University in 1970.
Significant Achievements:
National Conference of Insurance Guaranty Funds
  • Served as the first president of the National Conference of Insurance Guaranty funds, (NCIGF) developing the membership based system into a cohesive source of knowledge, information and commitment to all persons affected by the impact of property/casualty insolvencies. Initiated a process of “Coordinating” committees to effectively work with and through receivers of insolvent property/casualty insurance companies to provide appropriate benefits to claimants. Served as Co-chair and subsequently chair of various groups to develop standardized automated reporting formats (UDS) for the communication of data between guaranty funds and receivers of all property/casualty insolvencies.
Indiana Insurance Guaranty Funds
  • As the Executive Director of the Indiana Guaranty Funds (property casualty and life, health and annuity) and the Indiana Crime Insurance Association, designed and implemented automated systems for the operations. Established a claims management and litigation control system for the Indiana Insurance Guaranty Association and the Indiana Life and Health insurance Association during a high volume insolvency period. Participated in the establishment of a national system for the coordination of benefits to claimants of life, health and annuity insolvencies as an original member of the National Organization of Life and Health Insurance Guaranty Associations’ (NOLHGA) Disposition Committee (subsequently Membership Participation Council).
Blue Cross and Blue Shield of Indiana
  • Manager Provider Audit – Recruited and developed staff to replace external audit contract to audit all Hospitals, nursing homes and home health agencies in the state of Indiana. Initial staff of 9, implemented standard audit approach and documentation, recruited trained and developed personnel. Staff of 50+ professionals in 1976, recruited on campus in direct competition with public accounting firms. Personnel became significant source of staffing for Hospital financial departments.
  • Director Internal Audit - Implemented National Account Contract Audit and Control Procedures, overseeing performance and compliance reviews of numerous Blue Cross & Blue Shield Plans and life claims reviews related to a joint venture program with Bankers’ Life Insurance Company. Initiated internal control documentation procedures to ensure compliance with the Foreign Corrupt Practices Act (the predecessor of Sarbanes-Oxley). Established an “external audit coordination and control” procedure for handling visits of all external audit or review personnel, including regulatory (Department of Insurance and federal and state examiners), account personnel, and others. Developed an automated procedure for internally reviewing claims experience for indications of fraudulent submission patterns.
  • Coordinated a combined internal and external review of the direction to be taken by Blue Cross and Blue Shield of Indiana. The result of this review was an organization directional change which ultimately resulted in the metamorphosis of the Indiana Blue Cross and Blue Shield Plans into a public corporation, now Well Point, one of the largest health insurance companies in the world.
  • Director National Division Claims – Steel & Other – Established group identity for claims operations, industry specific customer service response, and built relationships with both customer personnel and union representatives.










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