In a large saucepan, bring cream and broth to a boil. Reduce heat; simmer, uncovered, for 10-15 minutes or until reduced to 1 cup. Meanwhile, cook ravioli according to package directions.
In a large skillet, saute onion in butter for 2 minutes. Add red pepper; cook 2 minutes longer. Stir in the zucchini, salt and garlic powder; cook for 1-2 minutes or until vegetables are crisp-tender. Keep warm.
Stir 1/2 cup cheese, basil and parsley into cream sauce; cook for 1 minute. Drain ravioli; add to skillet with cream sauce. Toss to coat. Sprinkle with remaining cheese.