Heat the olive oil in a large pot or Dutch oven over medium heat. Add the diced onions and sauté for about 5 minutes until they become translucent.
Stir in the minced garlic, bell pepper, and carrots, cooking for an additional 5 minutes until the vegetables are softened.
Add in the drained white beans, vegetable broth, cumin, smoked paprika, cayenne pepper, salt, and pepper. Bring the mixture to a boil, then reduce heat and let it simmer for 15 minutes.
After simmering, use a potato masher or fork to mash some of the beans to create a creamier texture, leaving some whole for added body.
Stir in the heavy cream and corn, and allow the chili to simmer for another 5 minutes, ensuring everything is heated through. Adjust seasoning if necessary.
Remove from heat and serve the chili in bowls, garnished with fresh cilantro or parsley, and lime wedges on the side if desired.
For a spicier version, increase the amount of cayenne pepper or add diced jalapeños.
Serve with crusty bread or over rice for a more filling meal.