Select Sauté and add the olive oil to the inner pot. Once the oil is hot, add the onion, garlic, carrots, and celery; sauté for 3 minutes or until the vegetables start to soften.
Press Cancel and pour in the broth. Using a wooden spoon, scrape up any browned bits stuck to the bottom of the pot. Add the oregano, thyme, salt, pepper, and bay leaves, and stir to combine.
Add the beans, diced tomatoes, and tomato paste, but don’t stir (this prevents the tomatoes from getting to the bottom of the pot, where they might burn).
Lock the lid into place. Select Pressure Cook or Manual; set the pressure to High and the time to 5 minutes. Make sure the steam release knob is in the sealed position. After cooking, naturally release the pressure for 10 minutes, then quick release any remaining pressure.