1. Heat olive oil in a large Dutch oven or soup pot over medium heat.
2. Add the onion, serrano pepper, red pepper, tomatoes, and garlic. Season with salt and cumin. Cook for 5-7 minutes or until the onions begin to become translucent. Take out of the pot and set aside. This is the sofrito.
3. Season the chicken with salt and pepper. Add the chicken, skin side down, and cook for 7-10 minutes until the skin is browned and crispy.
4. Add the sofrito to the chicken with the chicken broth, cilantro, and thyme.
5. Cover and cook on low heat for 30-40 minutes until the chicken is cooked through. Serve over rice or cauliflower rice for a low carb option.