Preheat your oven to 375°F (190°C).
Pat the chicken thighs dry with paper towels and season them generously with salt and black pepper on both sides.
Heat the olive oil in an oven-safe skillet over medium-high heat. Once hot, add the chicken thighs skin-side down and sear until golden brown, about 5-7 minutes. Flip and sear for an additional 5 minutes on the other side. Remove the chicken from the skillet and set aside.
In a mixing bowl, whisk together the heavy cream, chicken broth, garlic powder, onion powder, dried thyme, and paprika. Season with salt and black pepper to taste.
Pour the cream mixture into the same skillet, stirring to combine with the drippings. Bring it to a simmer over medium heat.
Return the seared chicken thighs to the skillet, skin-side up. Spoon some of the sauce over the chicken.
Transfer the skillet to the oven and bake for 30-35 minutes, or until the chicken is cooked through (internal temperature reaches 165°F or 75°C) and the sauce is bubbly.
Remove the skillet from the oven and let it rest for a few minutes. Garnish with fresh parsley if desired before serving.