In a large pot, heat olive oil over medium heat. Add the diced onion, red bell pepper, and green bell pepper. Sauté for about 5 minutes until the vegetables are softened.
Stir in the minced garlic, cumin, chili powder, smoked paprika, salt, and black pepper. Cook for an additional minute until fragrant.
Add the chicken pieces to the pot and cook until they are no longer pink, about 5-7 minutes.
Pour in the chicken broth and bring to a boil. Stir in the uncooked rice, black beans, diced tomatoes, and corn.
Reduce the heat to low, cover, and simmer for about 20 minutes, or until the rice is tender.
Once cooked, stir in the lime juice and adjust seasoning if needed.
Serve hot, garnished with fresh cilantro and a dollop of sour cream or shredded cheese if desired.