The quickest way to a millennial employee’s heart may be through his dog or cat or pet iguana.

In the scramble for talented employees, more employers are offering pet insurance along with dental or eye care as a perk to attract prospects. This is especially important to millennials who are putting off having children and doting on their pets, says Figo, a pet insurance provider based in Chicago.

This latest insurance add-on can cover a range of animals from traditional cats and dogs to horses, birds and turtles.

Pet insurance is currently one of the fastest-growing nontraditional employee benefits, with one in three Fortune 500 companies now offering it, says Consumer Reports. Some companies pay part of the cost while others cover 100 percent of the insurance cost, although the employee could still be responsible for co-pays or deductibles. Some employers offer pet insurance from more than one company.

Figo says it is the only pet insurance company to offer pet cloud technology, which enables owners to have access to pet health records and provides GPS tracking of the pet while the owners are in the office. Its client base, which Figo says is growing quickly, includes both large and medium-size companies. 

More than two-thirds of Americans have pets and the fastest growing segment of pet owners is millennials, says Figo.

“Innovative organizations are looking beyond traditional company benefits to recruit these young workers who don’t have kids yet and are passionate pet parents,” the company says. “Pet insurance gives employers a competitive advantage.”

Pet insurance usually covers illness, injury and treatments, although some have age requirements.

Consumer Reports says insurance may not be worth it for routine veterinary visits, but pet owners will probably incur at least one $2,000 to $4,000 bill for emergency care at some point during a pet's lifetime. The research organization recommends looking for free quotes, reading the terms and conditions, and examining a sample policy on the insurer’s website. Consider coverage with simple, percentage-based payouts and no reliance on judgments of what is ‘reasonable’ in order to avoid future headaches.

In addition, find out how much the premiums could increase as the pet ages.