Heat olive oil in a large skillet over medium-high heat. Add the cubed chicken breast and cook for 4–5 minutes until golden brown on all sides.
Stir in the minced garlic, chopped onion, and sliced red bell pepper. Sauté for 3–4 minutes until the vegetables are softened and fragrant.
Sprinkle in the smoked paprika, optional chili flakes, salt, and black pepper. Stir to evenly coat the chicken and vegetables with the spices.
Add tomato paste, chicken broth, and heavy cream to the skillet. Reduce the heat to medium-low and simmer for 8–10 minutes, stirring occasionally, until the sauce thickens and clings to the chicken.
Taste and adjust seasoning if needed. Sprinkle with chopped fresh parsley.
Spoon the creamy paprika chicken over bowls of cooked rice and serve hot.