A crucial step in new product development is the design verification process (DVP), which assures that the conceptual design of new technology is successfully transformed into a prototype product. In this paper, a novel DVP for subsea electrical and electronic prototype products is introduced. The comprehensive DVP ensures that the prototype of the product is designed righteously, is well documented, and is verified according to international practices and standards such as The American Petroleum Institute (API), International Organization for Standardization, European Norm, and European Union specifications. Compliance testing [environmental stresses and electromagnetic compatibility (EMC)] on the product is proposed to achieve Technology Readiness Level 2 (TRL2) of the first article of a printed circuit board (PCB). Concerning the quality of an electronic circuit board, it is recommended in this paper to follow the guidelines and specifications of the Institute of Printed Circuits to certify the robustness of the design. Finally, the proposed DVP is thoroughly exercised on the insulation monitoring PCB under the prescribed test methods as a case study. The experimental results show that the design is robust and the product is suitable for use in the intended subsea environment after further raising the technology maturity level of the product.