In a large dutch oven add oil and sauté onion, bell pepper, and carrot over medium heat. Cook for 8 - 10 minutes until softened.
Add garlic, cumin, chili powder, paprika and cook for 1 minute.
Add diced tomatoes, black beans, kidney beans and vegetable broth. Season with salt and pepper. Bring to a boil and reduce to a simmer. Cook for 40 minutes.
Remove 2 cups of chili. Using a blender, blend until smooth. Add back into the pot. You can also place the 2 cups of chili into a bowl an use and immersion blender or potato masher to make smooth.
Stir in lime juice. Check seasoning and adjust salt and pepper if needed. Stir in cilantro and serve.
You can top it with additional cilantro, avocado, grated cheese, sour cream or whatever you enjoy on your chili.