Heat olive oil in a large, deep skillet or Dutch oven over medium-high heat. Add vegetarian sausage pieces and cook until browned on all sides, about 5 minutes. Remove and set aside.
In the same pan, add onion and bell peppers. Cook until softened and beginning to caramelize, about 6-7 minutes. Add garlic and cook for 1 minute until fragrant.
Stir in crushed tomatoes, cannellini beans, vegetable broth, smoked paprika, oregano, and red pepper flakes. Season with salt and pepper.
Return the browned sausages to the pan and bring to a simmer. Reduce heat to medium-low and cook uncovered for 20-25 minutes, stirring occasionally, until sauce has thickened.
Stir in fresh spinach and cook until just wilted, about 2 minutes. Taste and adjust seasonings as needed. Garnish with fresh parsley and serve hot with crusty bread.