Heat oil in a large saucepan over medium heat. Add bell peppers, onion, garlic, basil, and crushed red pepper flakes. Saute for about 10 minutes.
Add carrots, canned tomatoes, and broth. Simmer 10 to 15 minutes or until carrots are tender.
Turn heat up to high and bring to a boil. Add chicken and cook until heated through - about 2 more minutes. Season with salt and pepper to taste and serve topped with cheese.