Best way to implement modular approach - Refletion

In my previous company, we implemented the modular approach via reflection, and all the infomration to attach the module with application was present in database. We just insert some scripts and it was ready to perform.

Foloowing are the key benifits of this implementation:

1. When a new module require to add, developer does not need to update the core code, becuase module was invoking via reflection
2. Once development of any module completes, we could easly plug or unplug that module withour deployment of any patch, becuase configuration was saved in database.
3. We can easly in-active or disable the buggy module.
4. All modules are independent of each other, we just need to copy required dll to deployemnt folder

My question is, it was the best approach to implement the module? or there is another way exist to implement this approach?