Preheat oven to 350°F. Bring large pot of water to boil. Add pasta and cook according to directions on package. Drain and set aside.
In medium pan, melt the butter over medium heat. Add flour, smoked paprika, salt and pepper. Stir until smooth. Add milk, mustard and evaporated milk. Whisk together until slightly thickened.
Whisk in asiago cheese, stirring until smooth. Stir in crab meat. Pour cheese and crab sauce over the drained pasta. Stir gently to combine. Pour into lightly buttered baking dish with lid. Top with sprinkle of Panko bread crumbs and parsley.
Cover and bake about 15 minutes. Uncover and cook until hot and bubbly, about 10 to 15 additional minutes.