Rinse the conch meat thoroughly under cold water. Pound the conch meat with a meat tenderizer or mallet to tenderize it. Cut the tenderized conch meat into bite-sized pieces.
In a bowl, toss the conch pieces with lime juice and let them marinate for about 10 minutes. Rinse again and set aside.
In a large skillet or pot, heat the vegetable oil over medium heat. Add the chopped onion, garlic, green bell pepper, and red bell pepper. Sauté until the vegetables are soft and the onion is translucent.
Stir in the chopped tomato, tomato paste, thyme, paprika, ground black pepper, and salt. Cook for about 5 minutes until the tomatoes are soft and the spices are well incorporated.
Add the conch pieces to the skillet and stir to coat them with the vegetable and spice mixture. Cook for about 5 minutes, stirring occasionally.
Pour in the coconut milk and fish or chicken broth. Bring to a gentle boil, then reduce the heat and let it simmer for about 30-40 minutes, or until the conch is tender and the sauce has thickened.
Garnish the conch dish with freshly chopped parsley. Serve hot with rice, fried plantains, or a fresh salad.
Enjoy your meal!