Ham and Potato Corn Chowder

Name: Ham and Potato Corn Chowder
Ingredients: 2 cups ham, diced; 3 tablespoons olive oil or butter; 1 onion, diced; 2 carrots, diced; 2 stalks celery, diced; 2 cloves garlic, chopped; 1 teaspoon fresh thyme, chopped (or 1/2 tsp dried thyme); 1/4 teaspoon paprika; 2 tablespoons all purpose flour; 2 (14.5 oz) cans chicken broth; 3 cups milk; 1 1/2 pounds potatoes, diced small peeled; 1 1/2 cup corn (fresh or frozen); 1 bay leaf; salt and pepper to taste; Sharp Shredded Cheddar Cheese for serving (optional)