Season the chuck roast with salt and black pepper.
Turn the Instant Pot to sauté mode and heat olive oil. Sear the roast on both sides until browned.
Remove the roast and cook onion for two minutes. Add garlic and cook for thirty seconds.
Pour in beef broth and stir in tomato paste and Worcestershire sauce.
Return the roast to the pot. Add thyme and rosemary.
Close the lid and cook on high pressure for sixty minutes.
Let the pressure release naturally for fifteen minutes.
Add carrots and potatoes. Cook on high pressure for ten more minutes.
Mix cornstarch and water. Stir it into the pot and cook on sauté mode until the gravy thickens.