Place all ingredients in Instant Pot. Add enough cold water to cover chicken. Cover and seal pot and cook at high pressure for 15-20 minutes. Naturally release pressure.
Remove parsley and bay leaf from pot.
Remove chicken from pot; let cool. Remove skin and bones. Shred cooked chicken. Return to pot.
Alternatively, strain soup and reserve chicken for any recipe that calls for cooked chicken.
To remove excess fat, refrigerate the soup overnight. The fat will solidify at the top of the soup and can be easily removed.