In a large pot, cook diced bacon over medium heat until crisp. Remove bacon and set aside, leaving about 2 tablespoons of bacon grease in the pot.

Add diced onion, red bell pepper, and minced garlic to the pot with bacon grease. Cook until vegetables are softened, about 5 minutes.

Stir in flour, salt, pepper, and smoked paprika. Cook for 1 minute until well combined with the vegetables.

Gradually add chicken broth, milk, and cream, stirring constantly. Add diced potatoes, diced chicken, and corn. Bring to a boil, then reduce heat and simmer until potatoes are tender and chicken is cooked through, about 15 minutes.

Return the cooked bacon to the pot. Stir well and adjust seasoning with additional salt and pepper if needed. Serve hot.