Heat the olive oil: In a large pot over medium heat, add 2 tablespoons of olive oil. Allow it to warm up until shimmering.
Sauté the vegetables: Add 1 sliced medium onion, 1 diced green bell pepper, and 1 diced red bell pepper to the pot. Stir occasionally until they are soft and slightly caramelized, about 5-7 minutes.
Add garlic: Stir in 2 minced cloves of garlic and cook for an additional minute, until fragrant.
Cook the beef: Add 1 pound of thinly sliced beef to the pot. Cook until the beef is browned, approximately 4-6 minutes. Make sure to break it up with a spoon for even cooking.
Combine the liquids: Pour in 4 cups of beef broth and stir in 1 teaspoon of Worcestershire sauce, 1 teaspoon of salt, and 1/2 teaspoon of black pepper. Bring the mixture to a simmer.
Add cream: Stir in 2 cups of heavy cream and allow the soup to simmer for about 10-15 minutes. Stir occasionally until the flavors meld and the soup thickens slightly.
Incorporate cheese: Gradually add 2 cups of shredded provolone cheese, stirring until melted and the soup becomes creamy. Adjust seasoning to taste.
Serve: Once the cheese is fully melted, remove from heat. Ladle the soup into bowls and top with additional cheese if desired.