Place the stainless steel inner pot inside the Instant Pot®. Press Saute and set time to 7 Minutes. Add the olive oil and sear the meat.
Add the vegetables (onion, carrot, pepper), bay leaves, colored paprika, salt, and pepper and Sauté for 5 more Minutes.
Add the wine and tomato sauce. Close and lock the Instant Pot® lid. Make sure the steam release handle is turned to Venting. Press Slow Cook and set time to 6 Hours.
Put in a baking dish or pot. You can let cool and heat the minute you serve.