Heat the olive oil in a large pot or deep skillet over medium-high heat.
Season the chicken thighs with salt, black pepper, and smoked paprika.
Place the chicken thighs skin-side down in the pot and sear for 5-6 minutes until the skin is golden brown. Flip and cook for another 3 minutes. Remove the chicken from the pot and set aside.
Add the diced onion, carrot, and bell pepper to the pot. Cook for 4-5 minutes until the vegetables soften.
Add the minced garlic and cook for 1 minute until fragrant.
Add the rinsed rice to the pot and stir to coat the rice with the oil and vegetables.
Pour in the chicken broth and add the dried thyme. Stir well to combine.
Return the chicken thighs to the pot, placing them on top of the rice mixture.
Bring the mixture to a boil, then reduce the heat to low. Cover the pot with a tight-fitting lid and simmer for 25 minutes, or until the rice is cooked and the chicken is fully cooked through (internal temperature of 165°F/74°C).
Remove the pot from heat and let it rest, covered, for 5 minutes.
Fluff the rice with a fork and sprinkle with chopped fresh parsley before serving.