Preheat oven to 375°F (190°C) and grease a casserole dish.
Heat olive oil in a skillet over medium heat. Sauté onion, red bell pepper, and green bell pepper until softened, about 3-4 minutes.
Add garlic, Cajun seasoning, smoked paprika, salt, and black pepper. Cook for 1-2 minutes until fragrant.
Stir in shrimp and cook for 2-3 minutes until pink. Remove shrimp and set aside.
Melt butter in the skillet. Add chicken broth and heavy cream. Simmer for 3-4 minutes until slightly thickened.
In a large bowl, combine cooked rice, sautéed vegetables, and sauce. Mix well.
Spread half the rice mixture in the prepared casserole dish. Layer shrimp on top, then cover with remaining rice mixture.
Sprinkle cheddar and mozzarella cheese evenly over the casserole.
Bake for 20-25 minutes until cheese is melted and bubbly.
Garnish with chopped green onions and parsley. Serve hot and enjoy!