Place the cubed beef in a bowl and toss it with the flour, salt, and pepper until evenly coated.
Heat a skillet over medium heat and brown the beef in batches, then transfer it to the slow cooker.
Add the carrots, potatoes, parsnips, onion, and garlic to the slow cooker.
Stir in the tomato paste, thyme, and bay leaves.
Pour the beef broth over the ingredients and stir gently to combine.
Cover and cook on low for 8 hours until the beef is tender and the vegetables are soft.
Remove the bay leaves before serving.