Moldable, thermally conductive polymer composites have broad applications as thermal interface materials and encapsulants. These thermal composites are generally comprised of single-phase particles that are randomly oriented and dispersed. Magnetic platelets have been shown to give exceptionally high thermal conductivities when magnetically aligned along the intended direction of heat flow, but produce composites that are electrically conductive. We have designed precision multilayered platelets that enable the development of high performance thermal composites that are electrically insulating. These platelets consist of a thin Ni core that permits field alignment, Al or Cu coatings that facilitate heat transport, and dielectric layers of MgF2 or SiO2 that ensure that the final composite is electrically insulating. These platelets can be made flat or corrugated, square or irregular, and the thickness of the various layers can be varied over a wide range. Thermal conductivity data for a variety of platelet compositions, layer thicknesses, and geometries demonstrate that these platelets are highly effective at producing composites with thermal conductivities much greater than that of the resin. Simulation data are presented that show that multilayer platelets have surprising dependencies of their efficiency for heat transfer on the relative thermal conductivities of the various layers. In fact, analysis shows that if the thermal conductivity of the particle phase is much greater than that of the resin, then the thermal conductivity of the composite, at fixed number density of particles, is insensitive to the platelet thickness. These electrically insulating composites would be especially useful as thermally conductive encapsulants for electronic devices.