Place the beef chunks in the slow cooker and sprinkle with flour, salt, and pepper. Toss to coat evenly.
Add the carrots, potatoes, parsnips, onion, and garlic on top of the beef.
In a bowl, whisk together the beef broth and tomato paste until smooth. Pour this mixture over the ingredients in the slow cooker.
Add the dried thyme and bay leaves.
Cover and cook on low for 8 hours until the beef is tender and the vegetables are soft.
Remove the bay leaves before serving.