Turn on the instant pot, select "saute" and add oil.
Add onion, garlic and ginger cook just until fragrant.
Add chopped vegetables (carrots, potato, parsnip), salt, black pepper, turmeric, paprika, cumin, broth, water, and stir. Close and lock lid. Turn Pressure Valve to the Sealing position and cook at high pressure for about your 15 minutes. When the cooking cycle is complete, immediately vent to release the remaining pressure.
Open the lid and stir the cream (heavy cream or coconut milk), use a hand blender to puree the soup. Adjust seasoning if needed.