Place the beef stew meat in the bottom of the slow cooker.
Add the cubed potatoes, sliced carrots, and diced onion on top of the meat.
In a small bowl, stir together the beef broth and tomato paste until smooth, then pour the mixture over the vegetables and meat.
Add the minced garlic, dried thyme, bay leaves, salt, and pepper.
Cover and cook on low for 8 hours until the beef is tender and the vegetables are soft.
Remove the bay leaves before serving.