Season the beef chuck roast with salt and pepper.
Set the instant pot to sauté mode and add olive oil.
Brown the roast on all sides for about 4-5 minutes.
Remove the roast and set aside.
Add chopped onion and minced garlic to the pot; sauté until softened.
Stir in the Worcestershire sauce, tomato paste, and beef broth.
Return the roast to the pot.
Layer the carrots and potatoes on top of the roast.
Close the lid and set the instant pot to high pressure for 60 minutes.
Allow natural release for 15 minutes, then quick release any remaining pressure.