Heat the olive oil in a large skillet over medium-high heat. Season the chicken thighs with salt, pepper, and paprika. Once the oil is hot, add the chicken thighs, skin-side down, and sear until golden brown (about 5-7 minutes). Flip and sear the other side for another 5 minutes. Remove the chicken from the skillet and set aside.
In the same skillet, add the chopped onion and minced garlic. Sauté for 3-4 minutes until the onion is translucent and fragrant.
Pour in the chicken broth and heavy cream, stirring to combine. Scrape up any browned bits from the bottom of the skillet for extra flavor.
Add the dried thyme, onion powder, and additional salt and pepper to taste. Stir well to incorporate the spices into the sauce.
Return the chicken thighs to the skillet, spooning some of the sauce over the top. Cover the skillet, reduce the heat to low, and let it simmer for about 30 minutes, or until the chicken is cooked through and tender.
While the chicken is cooking, prepare the white rice according to package instructions.
Once the chicken is done, serve it over a bed of fluffy rice, topped with the savory gravy from the skillet. Garnish with fresh parsley if desired.