Heat a large pot over medium high heat and add in the bacon. Cook until crisp and remove half of the bacon to paper towels to drain. Keep the other half in the pot.
Add the onion and red bell pepper to the pot and cook, stirring often until both the onion and bell pepper have softened ( about 5 minutes). Add in the garlic and thyme and cook for an additional couple minutes.
Stir in the flour and cook for 60 seconds, then whisk in the chicken broth. Slowly at first so that you don't get any lumps of flour. Add in the carrots and potatoes and boil until tender (about 15 minutes.
Add in the chicken and the heavy cream and heat through. Serve topped with bacon and fresh parsley