Cook the chicken: Heat olive oil in a large pot over medium heat. Add the chicken breasts and cook until browned on both sides, about 5 minutes per side. Remove and set aside.

Sauté vegetables: In the same pot, add the diced onion, garlic, and bell pepper. Sauté until softened, about 5 minutes.

Add spices: Stir in the chili powder, cumin, paprika, salt, and pepper. Cook for 1 minute until fragrant.

Combine ingredients: Add the diced tomatoes, kidney beans, black beans, and chicken broth to the pot. Stir well to combine.

Shred chicken: Shred the cooked chicken into bite-sized pieces and add it back to the pot.

Simmer: Bring the chili to a boil, then reduce heat and simmer for 30 minutes, stirring occasionally.

Garnish and serve: Ladle the chili into bowls and garnish with fresh cilantro. Serve hot.