What process involves an agent signing each new policy prepared by the company before delivering it to the insured?

The correct answer is "Countersigning." This process is crucial in the insurance industry, as it signifies that the agent has reviewed and authorized the policy before it is delivered to the insured person. By countersigning each new policy, the agent confirms that the policy meets all necessary guidelines and has been properly issued according to the underwriting standards set by the insurance company.

Countersigning serves several important purposes. It ensures that the company is aware of the policy being issued and provides a layer of accountability for both the agent and the insurer. Additionally, this practice helps to protect the interests of the insured by ensuring that the policy is valid and enforceable once it is delivered.

In contrast, field underwriting refers to the initial assessment done by the agent to evaluate the risk posed by the applicant before the policy is issued, but it does not specifically involve the signing of the policy. Policy review typically involves examining a policy after issuance, often for ensuring coverage adequacy rather than the initial signing process. Claim processing is the procedure that occurs after a policyholder files a claim, unrelated to the signing of new policies. Therefore, the process characterized by the agent signing each new policy is specifically defined as countersigning.