The Financial Services Compensation Scheme (FSCS) has put a £360,000 - £540,000 contract to tender, which will cover the scheme's external PR activity over the coming two years.
The PR work, which is currently carried out by PR firm Hanover whose contract has come to an end, will help the scheme raise public awareness and handle corporate and stakeholder engagement, the FSCS said.
The contract will be funded by the FSCS' awareness budget, part of the £313m levy the scheme proposed for the coming year.
The FSCS said in a statement on its website: "The FSCS requires a strategic partner to support its delivery of a comprehensive communications strategy. Building awareness of the scheme is at the heart of its mission.
"The PR agency will be required to provide strategic advice and support on the creative development of consumer PR themes, plans and tactics as well as the implementation and delivery of PR activity that gets results."
The scheme last year also revealed it has hired Sherlock Holmes actor Benedict Cumberbatch to voice over its £3m consumer awareness campaign, which will run over the space of 15 months.
The FSCS defended the high cost of the campaign at the time by comparing it with the overall amount of money that is spent on marketing by the financial services industry each year, which showed it equated to 0.5%.
The scheme's awareness campaign seeks to improve financial stability by instilling consumer confidence.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till