Preheat the oven to 375°F. Heat olive oil in a large oven-safe deep skillet over medium heat. Add the onion, and bell peppers. Cook until the vegetables have softened and the onion is translucent, about 5 minutes. Add the garlic and sauté for 1 minute.

Move the veggies to one side of the skillet and add the ground beef. Break it up with a spoon and cook until browned, then drain any excess fat. Stir the cooked meat and vegetables together.

Season the mixture with Italian seasoning, paprika, garlic powder, salt, and pepper. Stir in the diced tomatoes with their juices and tomato paste until everything is well combined.

Bring the mixture to a simmer. Stir in the instant rice and gently simmer for 3-4 minutes, letting the rice absorb some of the liquid.

Sprinkle on the shredded cheeses. If you don’t have an oven-safe deep skillet, transfer the mixture to a 9x13-inch casserole dish and sprinkle on the cheeses.

Bake for 20 minutes, or until the cheese is melted and bubbly. If you want the cheese lightly browned, switch to broil for the last 2-3 minutes.

Remove from the oven and allow the casserole to rest for 5-10 minutes before serving. Enjoy!