Pour olive oil into your Instant Pot and add carrots, onion, celery, thyme and bay leaves.
Press “Sauté” and cook for about 2 minutes (until onion starts to turn golden).
Add ham and cook for another minute, until it browns a bit.
Add chicken broth and peas, salt and pepper.
Cook at high pressure for about 20 minutes.
Once done, wait for a natural pressure release.
Sprinkle with smoked paprika and serve :)