Set the instant pot on saute and add the olive oil. Add the onions and cook for around 3 minutes.
Add the finely sliced chorizo and cook until the oil has taken on the chorizo colouring (around 3 minutes)
Add the garlic, smoked paprika and chicken (cooked chicken can be used - add before the stock instead). Cook until the chicken is browned.
Add the peppers and then the rice. Cook until the rice begins to turn clear (around 2 minutes). Add the saffron and stir.
Now add the wine and cook until the alcohol evaporates (around 2 minutes).Add the stock, sweetcorn, frozen peas and frozen prawns. Stir well and set the instant pot on high pressure for 8 minutes.
When the cooking is complete, leave under pressure for a further 4 minutes and then perform a quick release. Remove the lid when the pin drops.
Serve at once with a garnish of parsley and lemon wedges.