Heat the olive oil in a large pot over medium heat. Add the diced onion and sauté for about 5 minutes, until it becomes translucent.
Stir in the minced garlic and grated ginger, cooking for another minute until fragrant.
Add the diced carrot and red bell pepper to the pot. Cook for an additional 5 minutes, stirring occasionally until the vegetables start to soften.
Sprinkle in the curry powder, cumin, and turmeric. Stir well to coat the vegetables with the spices, cooking for another 1-2 minutes.
Add the rinsed red lentils to the pot, then pour in the vegetable broth. Stir to combine and bring it to a boil.
Reduce the heat to low, cover, and let it simmer for about 20 minutes, until the lentils are soft.
Once the lentils are cooked, stir in the coconut milk. Season with salt and pepper to taste.
For a smoother consistency, you can use an immersion blender to blend part of the soup, or leave it chunky as preferred.
Serve hot, garnished with fresh cilantro if desired.